Our View: The Q2 GDP figures out so far point to robust growth across much of the emerging world, but we think growth will soften over the second half of the year. While growth across much of Asia will exceed consensus expectations, we think growth will disappoint in much of Eastern Europe.
The inflation outlook has become a bit more benign and we’ve generally lowered our interest rate forecasts. Our rate projections sit on the dovish side in much of Asia, Latin America as well as in South Africa.
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