India achieved a big drop in wholesale price inflation
May 14, 2015 13:22 pm UTC| Commentary
Wholesale price inflation in India recorded another large drop in April, to its lowest rate since the series began in 2005. Importantly, as the consumer price data releasedon Tuesday also showed, core inflation remains...
BSP on hold, signalling little appetite for cuts
May 14, 2015 13:17 pm UTC| Commentary
The Bangko Sentral ng Pilipinas kept its policy rate unchanged at 4.00%. This was in line with both consensus and our view, and the fifth straight on-hold decision. Italso left SDA rates at 2.50%. The BSP also signalled...
BoK likely to go for a rate cut
May 14, 2015 10:19 am UTC| Commentary
The BoKs two day meeting starts today. It is expected to leave rates at 1.75%, but there is a small minority (2 out of 10) expecting a 25bps rate cut.With growth and inflation subdued, BoK remains under pressure and the...
US retail sales slowdown but recovery expected
May 14, 2015 08:59 am UTC| Commentary
US core retail sales growth has slowed, on a 3-month basis, to 3.9% (3.4% y/y on the month), which adjusted for inflation is around 2 ½%. Not a disaster, more a return to the trundling growth rate of 2012-2104 than...
Bank of England seems happy with the adjustment in market rate expectations
May 14, 2015 08:57 am UTC| Commentary
Prior to the release of the report by Bank of England there had been some market discussion that the MPC might want to continue the process of signalling to the market that it felt the money market was too flat.Recall that...
UK experiences less sanguine on the supply side but output gap still ½%
May 14, 2015 08:54 am UTC| Commentary
In UK economy, one might expect that lower growth path to lead to a revision of the output gap estimate but in fact it has remained at ½% of GDP.The MPC has also updated its view of the supply side of the economy in...
UK growth profile lower, inflation unchanged at the forecast horizon
May 14, 2015 08:51 am UTC| Commentary
The MPC was confident that the Q1 dip in growth was purely temporary and that much of it would be revised away. The backcast (the Banks forecast of what will be thefinal estimate of GDP for each quarter) shows Q1 growth at...
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