Commodity exporter countries would likely need further monetary policy support
Jul 24, 2015 03:38 am UTC| Commentary
The potential pass through of lower commodity prices into inflation and its effect on fiscal outcomes have implied more dovish monetary policy in EMs and tolerance for FX depreciation. This dynamic is likely to continue...
Copom to make a monetary policy decision next week
Jul 24, 2015 03:34 am UTC| Commentary
Next week the Copom will make a monetary policy decision, currently the markets are largely pricing in a 25bp hike. Both decisions should be considered by the board given the different movements of economic variables since...
Banxico rate decisions in key commodity producers
Jul 24, 2015 03:30 am UTC| Commentary
Banxico recently adjusted its monetary policy meeting calendar in order to make a decision right after the FOMC meetings. Accordingly, next week there will be Fed decision on July 29 and Banxico will meet on July 30.The...
Central Bank of Russia rate decisions in key commodity producers
Jul 24, 2015 03:26 am UTC| Commentary
A gradual path of rate cuts from the CBR appears justified following the real sector data last week that suggest tentative signs of bottoming. The oil (Brent) in RUB terms has fallen 8% since the end of June, which will...
Mexico's subdued inflation set monetary policy dilemma
Jul 24, 2015 01:56 am UTC| Commentary
Mexico inflation remains subdued, and recently, it has surprised the markets on the downside, reducing market expectations for the year-end print. In particular, CPI increased 0.09% 2w/2w in the first half of July as a...
No rest for Brazil's inflation, at least for now
Jul 24, 2015 01:47 am UTC| Commentary
Barclays notes:The recent inflation prints in Brazil surprised on the upside, as food prices seasonally experience a decrease between the months of May and July, driving headline inflation lower. This year, however, food...
MERS drives Korea's consumption lower in Q2 GDP
Jul 24, 2015 01:23 am UTC| Commentary
Barclays notes:Koreas advance estimate of Q2 15 GDP showed weak growth of 0.3% q/q sa (Q1: 0.8%; Q4 14: 0.3%). On an annualised basis, growth slowed to 1.2% q/q saar (Q1: 3.3%; Q4: 1.1%), which translates into 2.2% y/y...
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