Daily Economic Outlook: 17th July, 2015

Jul 17, 2015 04:40 am UTC| Commentary

Fed Chair Yellens semi-annual testimonies earlier this week hardly deviated from other recent statements and continued to sound cautiously optimistic over the economic outlook. She saw prospects for further improvement in...

Bullion under bearish pressure, Fed by rate hike prospects

Jul 17, 2015 04:38 am UTC| Commentary

Gold futures were seen moderately lower on Thursday, dwelling under bearish pressure for the fourth consecutive day as investors assessed the rate hike remarks by the Federal Reserves Janet Yellen. Meanwhile, the bullion...

ECB lends Greece a hand

Jul 17, 2015 04:29 am UTC| Commentary

The ECB President said nothing at all about the situation in that country. He explained that the Council had raised the ELA ceiling by 0.9bn.The new limit would apply for one week, after which the ECB would reassess the...

MPC to hike by 25bp next week in South Africa

Jul 17, 2015 04:16 am UTC| Commentary

The inflation outlook will likely remain uncomfortable for the SARB as a multiquarter upside target breach looks likely from Q4, despite the recent respite in international oil prices.While the NERSA decision to decline...

South Africa's May Headline CPI to rise

Jul 17, 2015 03:51 am UTC| Commentary

In South Africa, the macro focus shifts to monetary policy as the SARB holds its July MPC meeting next week with a decision on the repo rate on Thursday afternoon. A slew of recentdata and developments pointing to firm...

Central Bank of Turkey (CBT) to keep rates unchanged on Thursday

Jul 17, 2015 03:42 am UTC| Commentary

Although the TRY found some relief recently due to a pullback in oil and initial positivism around the Iranian deal, political uncertainty remains a key risk for the near-term currency outlook."Central Bank of Turkey (CBT)...

Hungary Central Bank (NBH) to make one more final 10bp cut next week

Jul 17, 2015 03:39 am UTC| Commentary

The main reason for Hungary Central Bank (NBH) to stop the rate cut cycle after one more cut is HUF depreciation that will likely feed through into higher prices. In addition, inflation climbed to 0.6% y/y in June and will...