Emerging Europe Economics Update Romanian MPC flags up prospect of further rate cuts Governor Isarescu opened the door to further interest rate cuts in Romania at today’s post-MPC meeting press conference. Much will depend on inflation data for July and August, due to be released... 4th August 2014 · 1 min read
China Economics Focus Is the level of borrowing costs in China a problem? Cuts to benchmark interest rates could end up doing more harm than good to China’s economy. Policymakers worried about elevated financing costs in the corporate sector would do better to focus on... 4th August 2014 · 1 min read
Africa Economics Update Ghana faces up to economic woes by turning to the IMF Ghana’s authorities bowed to the inevitable on Sunday by formally requesting help from the IMF in dealing with the country’s enormous twin budget and current account deficits. The most likely form of... 4th August 2014 · 1 min read
Bank of Japan Watch October meeting might disappoint markets The upcoming BoJ meeting is unlikely to result in any changes in policy. However, policymakers will have to outline their strategy for 2015 before too long – most likely at the late-October meeting... 4th August 2014 · 1 min read
Asia Economics Weekly Consumer spending in Emerging Asia set for recovery Emerging Asia’s consumers have been struggling in recent months. Tight labour markets and improving growth prospects point to some pick-up going forward, but high levels of household debt in a number... 4th August 2014 · 1 min read
Latin America Economics Update Colombia: interest rates do not have much further to rise Policymakers in Colombia hiked interest rates by another 25bp to 4.25% last night but we do not think that the current tightening cycle has much further to run. Inflation is unlikely to pose a problem... 1st August 2014 · 1 min read
BoE Watch MPC’s judgement on wages key to rate outlook While a vote to raise interest rates does not seemimminent, the Inflation Report following the MPC’s meeting will give the clearestsignal yet as to whether a hike is likely before theend of 2014. In... 1st August 2014 · 1 min read
Emerging Europe Economics Focus Making sense of Hungary’s new policy rate The National Bank of Hungary is due to introduce a new benchmark monetary policy instrument tomorrow. While this is unlikely to have any impact on domestic monetary conditions, policymakers have... 31st July 2014 · 1 min read
ECB Watch ECB on hold despite deflation risk With the measures announced in June seeming tohave some positive effects on financial marketconditions, the ECB is unlikely to announceadditional policy support this month. But furthersigns of... 31st July 2014 · 1 min read
Emerging Europe Economics Update Czech National Bank extends FX intervention pledge The Czech MPC struck an even more dovish note at today’s post-meeting press conference. Policymakersextended their pledge to intervene in the FX market to prevent the koruna from appreciating beyond... 31st July 2014 · 1 min read
Asia Economics Update Further tightening likely in the Philippines The central bank in the Philippines (BSP) hiked its main policy rate earlier today for the first time in over three years in a further attempt to reduce risks in the financial sector and clamp down on... 31st July 2014 · 1 min read
Africa Chart Pack Tightening cycles have further to run The tightening cycles that began in Ghana and South Africa earlier this year continued in July and, in both cases, we think that further interest rate hikes are likely before the end of 2014. Ghana’s... 31st July 2014 · 1 min read
Middle East & North Africa Economic Outlook North Africa getting back on its feet Three years on from the “Arab Spring” uprisings, the tide is turning in favour of the economies of North Africa. Admittedly, there are still many challenges, not least reining in large twin current... 31st July 2014 · 1 min read
US Economics Update Fed continues with gradual QE tapering The Fed's policy announcement was largely as expected, with the monthly asset purchases reduced by an additional $10bn, to $25bn per month. But subtle changes to the statement and Philadelphia Fed... 30th July 2014 · 1 min read
Asia Chart Pack Property price worries prompt rate hikes The central banks of New Zealand, the Philippines and Malaysia all tightened monetary policy last month amid signs that policymakers are becoming increasingly concerned that loose monetary policy is... 30th July 2014 · 1 min read
Latin America Economics Update Weak Chile activity data point to further interest rate cuts Chile’s activity data for June point to GDP growth of just 2.3% y/y in Q2, an outturn that would mark the third consecutive quarter of sub-3% growth. With the economic outlook unlikely to improve in... 30th July 2014 · 1 min read
