South Korean economy shows sign of improvement

Oct 15, 2015 04:56 am UTC| Commentary Economy

The Bank of Korea held the policy rate at 1.5% in October, as expected. The BoK revised its growth forecasts for 2015 and 2016 marginally lower, cutting both 10bp, to 2.7% and 3.2%, respectively. The reductions were...

US Q3 GDP tracking 1.2% after August business inventories

Oct 15, 2015 04:55 am UTC| Commentary

US total business inventories were unchanged in August, weaker than forecasted. The details of the report, however, show that the miss relative to expectations was driven by a slower pace of retail motor vehicle inventory...

Global data points towards negative direction

Oct 15, 2015 04:49 am UTC| Commentary

Economic data from around the globe was released yesterday, nearly all pointing in a negative direction. Headline U.S. retail sales inched up a slight 0.1 percent while retail sales excluding autos dropped 0.3 percent and...

Potential upside risk to RUB likely from CBR

Oct 15, 2015 04:34 am UTC| Commentary

In the beginning of September Deputy Governor Ksenia Yudayeva said that the CBR might be offering FX in the market from its reserves if the Ministry of Finance starts to spend the sovereign funds too fast to cover budget...

Is RUB under upside risk?

Oct 15, 2015 04:28 am UTC| Commentary

In the long run the RUB may still remain vulnerable to external turmoil because of a weak economy, limited access to western capital markets and the CBRs easing policy. However on the positive side, if the oil market...

Banxico's policy meetings likely after FOMC meetings

Oct 15, 2015 04:14 am UTC| Commentary Central Banks

Banxicos policy meetings have been aligned to come 1-2 days after the FOMC meetings. Banxico will not be far away from raising rates once the Fed starts hiking. We have four rate hikes in our forecast for 2016 - the...

Daily Economic Outlook: 15th October, 2015

Oct 15, 2015 04:05 am UTC| Commentary

Both the Philly Fed and Empire manufacturing surveys are expected to show improvements in October. Yet, any rises should be seen in the context of current weak sentiment levels, with the sector impacted by softer external...