Announcements

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      Webinar: Norway’s municipalities: a guide to new challenges, opportunities in capital-market funding

      26/9/2023 Research EN

      Webinar: Norway’s municipalities: a guide to new challenges, opportunities in capital-market funding

      Tuesday, October 17th 2023 - 2:00 PM (CEST)

      Scope Ratings’ macroeconomic forecasts now available on Macrobond and LSEG Eikon

      22/9/2023 Research EN

      Scope Ratings’ macroeconomic forecasts now available on Macrobond and LSEG Eikon

      The presence on Macrobond and Eikon improves investor access to Scope’s economic forecasts for 40 countries, including EU member states, the United States, China, Japan and the UK. Scope has also joined the Reuters consensus forecasting group.

      Germany: uneven demographic trends weigh on medium-term growth as near-term downturn worsens

      19/9/2023 Research EN

      Germany: uneven demographic trends weigh on medium-term growth as near-term downturn worsens

      Germany faces a sharp cyclical slowdown and structural limits on growth, given adverse demographic trends, which are playing out unevenly across the country. The federal government has begun reforms, which should be complemented by the Länder.

      France: annual spending review is credit positive but no substitute for in-depth reforms

      12/9/2023 Research EN

      France: annual spending review is credit positive but no substitute for in-depth reforms

      France has reinforced fiscal discipline with the commitment to more regular government-spending reviews, but gains are likely to be modest without deeper reform given upward pressure on social spending, growing investment needs, and rising interest costs.

      Spain: political deadlock clouds investment outlook, with risks for growth, fiscal consolidation

      6/9/2023 Research EN

      Spain: political deadlock clouds investment outlook, with risks for growth, fiscal consolidation

      Delays in forming a new government in Spain after inconclusive elections in July could slow the deployment of EU funds, an important catalyst for new investment projects, thereby holding back economic growth and pressuring public finances.

      China: rising debt, lower growth and financial imbalances test shift to consumption-led economy

      1/9/2023 Research EN

      China: rising debt, lower growth and financial imbalances test shift to consumption-led economy

      The risk of policy mistakes has increased as China’s authorities try to tackle financial imbalances, including high local government debt, while shifting towards a consumption-led growth model through structural reforms.

      Türkiye to pursue policy shift with large rate hike but hefty inflation challenge remains

      25/8/2023 Research EN

      Türkiye to pursue policy shift with large rate hike but hefty inflation challenge remains

      The Turkish central bank’s unexpectedly hawkish shift in policy helps rebuild credibility in inflation targeting but fast-rising consumer prices will test the commitment to the current monetary stance given previous politically motivated reversals.

      Greece Q&A: Investment grade is an exceptional achievement but multiple challenges remain

      16/8/2023 Research EN

      Greece Q&A: Investment grade is an exceptional achievement but multiple challenges remain

      Scope senior writer Keith Mullin interviews Dennis Shen, lead analyst for Greece, after the upgrade of Greece to an investment-grade (IG) rating of BBB-, concerning Greece’s institutional environment, reforms, and challenges for the ratings moving ahead.

      Credit Lines: Renewed focus on central bank balance sheets will tighten financial conditions

      4/8/2023 Research EN

      Credit Lines: Renewed focus on central bank balance sheets will tighten financial conditions

      Peak rates, falling inflation and prospects for a soft landing have led to an easing of financial conditions but the effects of central banks’ balance sheets will burden financial conditions beyond the current rate cycle.

      CEE Mid-Year Sovereign Outlook: inflation subsides but economic recovery remains fragile

      25/7/2023 Research EN

      CEE Mid-Year Sovereign Outlook: inflation subsides but economic recovery remains fragile

      High headline inflation will continue to decline in the 11 EU countries of Central and Eastern Europe (CEE-11), but tight monetary policy and weak external demand mute the economic recovery.