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Mexico | Bank deposits: greater dynamism in its two components

April 7, 2017
In January 2017, the nominal annual growth rate of traditional bank deposits (demand + term) was 14.1%, 0.8 percentage points higher than the previous month, and 2.9 percentage points higher than the same month last year

Financial Regulation Outlook. Second Quarter 2017

April 6, 2017
CRD V: State of play. MREL: Unresolved issues. NPL - ECB guidelines. Uncertainties surrounding Brexit. Innovation and regulation. Creating sustainable opportunities.

China | Decline in foreign reserves won’t grind to a halt in 2017

April 6, 2017
China’s foreign reserves seem to have stabilized at the beginning of the year. By decomposing the change of foreign reserves in 2016, we make projections of foreign reserves at end-2017 under two scenarios with distinct key assumptions. To avert a swift depletion of foreign reserves, the authorities need to prevent large swings in the exchange rate.

Extremadura Economic Outlook 2017

April 5, 2017
The economy of Extremadura grew 2.0% in 2016, and will still grow 2.3% in 2017 and 2.4% in 2018, creating some 13,000 new jobs in those two years, although some external factors’ contribution shall slow down. Although pre-crisis per capita income will be reached, creating more and better jobs remain as challenges.

Turkey | Monthly Economic Monitor. March 2017

April 5, 2017
Global factors were supporting for Turkish Lira. Similar to EMs, Turkish bond market incurred inflows during March. Our monthly GDP indicator suggests continuum of V-shaped GDP growth recovery in 1Q17, following 4Q16’s above-expectations growth. Inflationary pressures will remain in the short term as exchange rate pass through and base effects on food will be pushing.

U.S. | Embracing "flat" – a new norm in long-term yields

April 5, 2017
A flattened term premium curve is unprecedented when compared to previous Fed tightening cycles. Term premium dynamics are driven by the amplified role of duration risk as a shock absorber. Economic growth expectations remain the main driving force behind the long-term yields trajectory

Mexico | Remittances contracted by 1.4% in February

April 5, 2017
Family remittances to Mexico in February 2017 amounted to US$2,051.9 million, down by 1.4% on February 2016. This broke a run of ten consecutive months of year-on-year growth; the last YoY fall in monthly remittances had been in March 2016, when they declined by 2.9%

Big Data at BBVA Research

April 4, 2017
Big Data analysis at BBVA Research. Digital revolution and the new business environment. Big data and education: challenges and opportunities

Mexico | How could Trump's immigration and migrant remittance policies affect Mexico?

April 4, 2017
During the election campaign, the US president, Donald Trump, promised to make mass deportations of Mexicans and tax migrant remittances, the later as a way to finance his border wall. What consequences could these actions have on the Mexican economy?

Spain Real Estate Outlook. March 2017

April 3, 2017
The housing market recovery is consolidated. Madrid, the Mediterranean axis and the islands are leading the recovery. The growth in sales is driving prices and building. Positive expectations for 2017 with a more moderate tone.

Turkey: Inflation breached 11% in March

April 3, 2017
Annual consumer prices inflation continued its significant increasing trend and reached 11.3% in March as the monthly inflation (1.0%) exceeded the market consensus of 0.6% and our above market call of 0.85%. Exchange rate pass-through on core prices and the unfavorable base impact on food were the main drivers.

China | Xiongan New Area Announced

April 3, 2017
China announced the establishment of a new economic zone 100km South of the capital, Beijing. The Xiongan New Area will encompass three counties, including Xiongxian, Rongcheng and Anxin. The area will sit at the center of a triangle formed by the capital, Beijing; one of North China’s busiest port cities, Tianjin; and the capital of Hebei province, Shijiazhuang.

The ECB’s liquidity: no-one will die of thirst

April 3, 2017
Liquidity is to banks as water is to humans: essential for life. A liquidity crisis is usually symptomatic of more deep-seated problems, and in many cases leads eventually to bankruptcy.

Infrastructure & economic growth from a meta-analysis approach: do all roads lead to Rome?

April 1, 2017
In a context of extended global economic fragility, multilateral institutions and governments have been recommending to increase infrastructure investment to spur economic growth. However, the impact of this policy can widely differ depending on many aspects

U.S. | Weekly podcast: housing and employment

April 1, 2017
Weekly economic update focusing on the major economic indicators to be released the week of April 3, 2017. Special topic: Supply of existing homes for sale

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