While Gulf economies have already taken a big hit from the Iran war, the effect on activity in major economies seems to have been limited so far. Inflation has begun to rise and will continue to do so...

The 0.4% m/m gain in core CPI in April was largely due to the expected jump in owners’ equivalent rent and another gain in airfares, rather than reflecting a significant broadening of inflation...

The rise in Brazilian inflation to 4.4% y/y in April shouldn't prevent the central bank (BCB) from continuing with its cautious monetary easing cycle. We expect 25bp interest rate cuts at each of the...