Bank of Israel likely to remain on hold

Jul 24, 2015 07:38 am UTC| Commentary

Israel inflation has started to increase, and the BoI forecasts that it will move up to the centre of the target by mid-2016."The Bank of Israel (BoI) to remain on hold at 0.10% next week", says Barclays.However, ILS...

Russian inflation likely to decline markedly next year

Jul 24, 2015 07:31 am UTC| Commentary

Inflation in Russia is expected to decline markedly next year, while the growth trajectory remains depressing. The reason for restraint is that utility price hikes in July (average of 7.5%) and recent RUB weakness could...

Pace of cuts in Russia to slow

Jul 24, 2015 07:27 am UTC| Commentary

In Russia, the Bank of Russia (CBR) to cut its policy rate by 50bp to 11%. At the most recent meeting, the CBR signalled that it will slow the rate of cuts in upcoming meetings and did not rule out possibly remaining on...

ZAR unable to benefit from rate hike

Jul 24, 2015 07:16 am UTC| Commentary

The SARB delivered what the market expected and raised the key rate by 25bp to 6.0% yesterday. The recently surprisingly moderate inflation rate of 4.7% did not cause the central bankers to wait and see. Its approach would...

CNB to extend EUR/CZK floor beyond late 2016

Jul 24, 2015 07:15 am UTC| Commentary

The situation surrounding the EUR-CZK floor is attracting increasing interest every day, which is not necessarily a good thing for CNB. The credibility of the floor mechanism is being debated actively, with EUR-CZK making...

IMF raises concerns on China's financial market accessibility

Jul 24, 2015 07:00 am UTC| Commentary Economy

The preliminary Caixin/Markit manufacturing PMI for July was softer than expected 48.2. It is the fifth straight month of contraction and more pertinently, it is the lowest reading in 15 months. The recent correction in...

Chinese data and threat of downgrade of AAA rating create pressure on AUD

Jul 24, 2015 07:00 am UTC| Commentary

A notably disappointing PMI in China put pressure on AUD last night. AUD-USD eased to the lowest level in about six years at 0.7272. After all the leading indicator causes doubts about the recently positive Chinese GDP...