Published on July 18, 2017 by William De Vijlder.
Eurozone economic growth is robust. This dynamism is shared amongst its members. However, important structural differences remain. The favourable cyclical environment calls for an economic policy to boost potential GDP growth and strengthen the resilience.
Published on July 11, 2017 by William De Vijlder.
The market reaction to the introductory speech of Mario Draghi at the ECB conference in Sintra was strong
This reflects a high degree of unease about the prospect of a policy normalisation.
Published on July 3, 2017 by William De Vijlder.
Monetary policy normalisation is a balancing act: tighten too early could trigger a recession, hike too late could mean an inflation overshoot and a need to raise rates more aggressively. The reaction of financial markets adds to the complexity of the balancing act. Different factors have made the job of central banks more difficult in recent years.
Published on June 27, 2017 by William De Vijlder.
Replace ‘blue sky’ with ‘robust growth’ and ‘umbrellas’ with ‘economic policy instruments’ and you have a description of the global economic environment: robust growth but, if a downturn would come, very little manoeuvring room for fiscal and monetary policies to stimulate growth. All the more reason to keep a watchful eye on the horizon, and to prepare for clouds to appear.
Published on May 9, 2017 by William De Vijlder.
After the French Election back to the economy as a market driver with a focus on the ECB
Published on May 4, 2017 by William De Vijlder.
Watch the video
Published on April 25, 2017 by William De Vijlder.
Based on the PMI’s employment component, Eurozone employment outlook looks positive
Published on April 21, 2017 by William De Vijlder.
Good time ahead for corporate investment? Increase in consensus earnings growth forecasts for the next 12 months points in that direction.
Published on April 10, 2017 by William De Vijlder.
“After a long straight, the driver downshifts and brakes slightly before going into a curve. When the curve proves to be tighter than expected, and with the car still cruising at high speeds, the driver hits the brakes harder. The wheels lock and the car skids out of control.” This metaphor seems to fit the challenges currently facing the US Federal Reserve
Published on March 3, 2017 by William De Vijlder.
The eurozone is doing better. In fourth-quarter 2016, there was a real acceleration in both the manufacturing and services sectors. And according to European Commission data, both household confidence and business sentiment have improved strongly since mid-2016.
