Corporate health hurt by lower profit margin but supported by cheaper funding

Although China's real GDP growth looks stable at around 5% in the last three quarters, persisting deflationary pressure and lower nominal growth are taking a toll on corporate profitability. While firms can digest debt through active deleveraging, the hurdle to raising profits is higher than it would have been under inflation. The trends have altered China's investment strategy from a broad-based growth story to a more selective one. In our China Corporate Monitor Series 2025 – the ninth release of Natixis annual flagship report covering 10,000 companies – we address questions relating to Chin...

ECB 7 月政策理事会：追加利下げのハードルは上昇したが、議題から消えた訳ではない

ECB July meeting: A Higher Bar for Another Rate Cut, But Not Off the Table

At today’s meeting, the ECB Governing Council decided to keep its three key interest rates unchanged at 2.00%, 2.15% and 2.40% for t he interest rates on the deposit facility, the main refinancing operations and the marginal lending facility respectively . The decision – widely expected – was unanimous . The ECB mentioned that the recent economic information was in line with its baseline scenario, so with the economy being resilient overall in a challenging global environment , while d omestic price pressures and wage grow th eased more slowly , partly reflecting the ongoing impact fr...