Archive

January 06, 2022
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HEM: squeezing into 2022

  • Excess inflation is moving from energy to the core
  • Renewed restrictions are squeezing winter activity
  • The BoE is likely to tighten less than priced in 2022
  • The ECB is still gradually slowing its stimulus
December 01, 2021
HEM

HEM: winter chills

  • Peak inflation is near, but the excess persists in 2022
  • The omicron threat should slow growth even further
  • BoE tightening is likely to be surprisingly gradual
  • The ECB is still weighing its stimulus withdrawal

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