Report by Bankinter Speaking at the monetary policy panel of the Central Bank Forum in Sintra (Portugal), Christine Lagarde emphasised that “the risks are now more balanced than they were two weeks ago” when the ECB decided to raise interest rates. The threat of prices spiralling out of control is lower following the agreement between the US and Iran to reopen the Strait of Hormuz, which reduces the need for…
Report by Intermoney The yen’s downward trend has continued to intensify in recent trading sessions, consolidating above 160 USDJPY – a level that had previously served as a threshold at which the Ministry of Finance would actively intervene in the market to support the yen. With the pair closing on Wednesday at around 162.22, the Japanese currency has reached its lowest levels against the US dollar in 40 years. As…
Report by Morgan Stanley Just a few days ago, Apple announced a 20 per cent price rise on some of its products due to the sharp increase in memory and storage costs, a phenomenon which, according to Shawn Kim, an analyst at Morgan Stanley, is becoming one of the clearest signs of the growing “inelasticity” of the AI-driven economy. After decades in which the cost of memory had been falling…
According to preliminary data for 2025 from Experian’s Yearbook, public authorities granted €11,152.17 million in the first half of 2025, 36.59% less than in the same period of 2024. Analysed by Consejeros Editorial Team The Experian Yearbook for 2024 and the first half of 2025 confirms that, following the extraordinary record set in 2023, public funding for businesses in Spain has entered a phase of normalisation. In 2024, public authorities…
A study included in the Afi Emilio Ontiveros Foundation’s “Snapshot of the Spanish business landscape: in search of growth” indicates that the 100 companies that recorded the highest cumulative annual revenue growth between 2008 and 2024 generate 30 per cent more revenue for every euro invested in staff and have achieved record levels of profitability. Analysis by the Afi Foundation According to the 2026 update of the ranking of the…
Andy Burnham has promised to abide by the fiscal rules set out by Minister Rachel Reeves to reassure investors and prevent a sharp rise in debt, and not to raise income tax, National Insurance contributions or VAT. He is a staunch advocate of returning public control — though not public ownership — of water, energy and the railways, and maintains a more pro-European stance than Starmer. Analysis by Editorial Team…
Analysis by Natixis CIB In 2025, the eurozone experienced a slowdown in wage growth (both nominal and real), which reduced households’ purchasing power and limited their consumption capacity. According to our wage decomposition model, this slowdown in the eurozone masks highly divergent national realities. In Germany and Spain, wage growth remained robust, whilst in France and Italy there was a more pronounced slowdown. These contrasting trends call for an analysis…
Reported by Alvise Lennkh-Yunus Long-term climate risks at the sovereign level are highly country-specific and depend on the scenario. Furthermore, forecasts point to a wide range of possible outcomes that reflect the uncertainty inherent in climate scenarios. In a recent study, Scope Ratings has estimated the economic impact of climate risks over a 30-year time horizon for EU countries and selected G20 sovereign issuers, arising from chronic physical risk, acute…
Reported by Julia Pastor Of the four major economies in the Eurozone, Germany will see the lowest growth in 2026 and Spain the highest, according to Deutsche Bank’s growth forecasts. 0.7% compared to 2.6%. Italy and France will both grow by 0.8%, and the Eurozone as a whole by 0.9%. Germany is the country for which the research firm has revised growth expectations downwards the most, as it is the…
Reported by Consejeros Editorial Team Based on strategic realism, not pessimistic prophecy, and with the aim of providing Spanish companies with a tool to better understand the events that are shaking up the geopolitical, economic and commercial landscape, Cesce’s Country Risk Unit has produced a new edition of its International Outlook report, the eleventh. “Our country’s business community cannot be a mere spectator in a scenario such as the current…