In the World

reino unido libra

UK inflation remains high due to pressure from services, complicating BoE’s position

Bankinter | CPI (July): 3.8% year-on-year versus 3.7% expected and 3.6% previously. Underlying: 3.8% versus 3.7% expected and previously. Bankinter analysis team’s view: Inflation remains high, pressured by services (+ 5.0% versus 4.8% expected and 4.7% previously) and complicates the BoE’s position, which faces a cooling economy and labour market in an environment of high prices. Inflationary pressures have increased in recent months, reaching 3.8% in July versus 2.6% in…


eeuu madeinCM

S&P maintains US’ long-term debt rating at ‘AA+’ and outlook at ‘stable’

Bankinter | The rating agency notes that significant revenue from tariffs should offset other sources of fiscal pressure. Although it considers an improvement in the US deficit unlikely, it expects the country’s fiscal health to remain quite stable in the coming years, supported by relatively solid economic growth. The agency anticipates a gradual moderation in growth, with GDP growth projections of 1.7% for 2025 and 1.6% for 2026, due to…


banco japon

Japan’s GDP grows 1% in Q2, beating estimates and paving way for further rate hikes

Bankinter | GDP grew 1.0% (quarter-on-quarter) in Q2, beating consensus estimates and paving the way for further rate hikes by the Bank of Japan. Japan’s growth in Q2 has been a positive surprise, exceeding consensus forecasts of 0.4% growth. In addition, growth in the previous quarter has been revised upwards to 0.6% (quarter-on-quarter) from -0.2%. Growth was led by business investment, which rose by 1.3% in the quarter, while consumption…


china exportaciones

Trump signs executive order to extend trade truce with China for another 90 days

Link Securities | US President Donald Trump signed an executive order to extend the trade tariff truce with China for another 90 days, as confirmed by Trump himself and the Chinese Ministry of Commerce. With the latest round of negotiations set to expire early Tuesday morning, this pushes the deadline to mid-November, providing crucial relief for seasonal import increases ahead of Christmas. The US will maintain 30% tariffs on Chinese…


china yuan mirada

Prices in China remain positive for second consecutive month

Bankinter | CPI (July): +0.0% year-on-year versus -0.1% expected versus +0.1% previously. Bankinter analysis team’s view: prices remain positive for the second consecutive month. The underlying rate reached +0.8% compared to +0.7% previously. It seems that the government measures to moderate excessive competition in some sectors are beginning to have some effect, despite the fact that industrial prices continue to exert downward pressure (-3.6% year-on-year in July compared to -3.3%…


gold precious

US imposes tariffs on imports of one-kilogram gold bars

Link Securities | The United States has imposed tariffs on imports of one-kilogram gold bars, a move that threatens to disrupt the global bullion market and deal a further blow to Switzerland, the world’s largest precious metals refining centre, according to Expansión. The Customs and Border Protection (CBP) agency stated that one-kilogram and 100-ounce gold bars should be classified under a customs code subject to duties, according to a letter…


Banco de Inglaterra

Bank of England cuts interest rates by 25 basis points to 4%, but maintains cautious approach

Bankinter | The Bank of England (BoE) cuts interest rates by 25 basis points to 4%, in line with expectations, but maintains a cautious approach. The process of lowering rates continues, accumulating -125 basis points since it began at the August 2024 meeting. The decision was not unanimous and was very close, requiring a second vote for the first time in its history. In the first vote, four members of…


china exportaciones

China’s July trade balance shows larger-than-expected slowdown in surplus

Link Securities | Dollar-denominated exports rose 7.2% year-on-year in China in July, beating the Reuters consensus of 5.4% and following 5.8% growth in June. Bloomberg highlighted that the resilience of Chinese exports came despite US tariffs, indicating strong global demand and exports remaining a key factor in the economy. Imports rose 4.1% year-on-year in July, contrasting with the expected 1.0% decline and accelerating growth from 1.1% in June. Imports, growing…


india rupias

Trump announces additional 25% tariffs on India for importing oil from Russ

Bankinter | Trump announces additional 25% tariffs on India for importing oil from Russia. These are in addition to the 25% announced last week, bringing the final tax to 50%. Bankinter analysis team’s view: The US president has followed through on his threats and raised tariffs on Indian imports to 50% as a sanction for buying oil from Russia. The Indian government considers the measure ‘unfair and unreasonable’, arguing that…


EEUU construccion

US economy adds 73,000 non-farm jobs in July, well below 115,000 expected

Link Securities | According to data from the Department of Labor, the US economy added 73,000 non-farm jobs in July. The figure is well below the 115,000 jobs expected by the consensus of FactSet analysts. In addition, June’s job creation figure was sharply revised downward from an initial 147,000 jobs to just 14,000 jobs, and May’s figure was also revised downward by 125,000 jobs. Taken together, the May and June…