Russia CPI (Sep.)

The fall in Russian inflation to the central bank’s target of 4.0% y/y in September is likely to be followed by a further decline in the headline rate over the coming months. We currently expect an additional 50bp of cuts in the policy rate by early 2020. But there’s a rising probability that the central bank will ease monetary conditions by more than that.
William Jackson Chief Emerging Markets Economist
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Latin America Data Response

Brazil IPCA (May)

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Latin America Data Response

Mexico Consumer Prices (May)

The rise in Mexican core inflation to its highest rate in over three years in May, at 4.4%, appears mainly to be related to temporary factors. Policymakers at the central bank will probably continue to adopt cautious language but so long as core inflation falls back in the next few months, as we expect, Banxico is likely to refrain from raising interest rates.

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Latin America Economics Update

Revising up our Brazil growth forecast

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3 June 2021
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