Brazil retail sales likely grew modestly in March but consumption trending downward

May 14, 2015 06:09 am UTC| Commentary

The monthly retail sales in Brazil are expected to have grown modestly at 1.0% yoy in March following the sharpest fall since 2003 at -3.1% yoy in February. The seasonally adjusted series should show a relatively stronger...

Policy minutes to provide Banxico’s evaluation of the economy

May 14, 2015 06:07 am UTC| Commentary

The Bank of Mexico kept policy rate unchanged at 3.0% at its April Board meeting, as expected. Moreover, the key messages on risks to growth and inflation scenarios remained largely unchanged compared with the previous...

Poland's CPI to have increased in April

May 14, 2015 05:36 am UTC| Commentary

Deflation in April has declined to -1.3% yoy from -1.5% in March in Poland, estimates Societe Generale. Itis likely to be 0.1pp below the market consensus of -1.2% yoy. In monthly terms, prices are likely to have...

Latam - BCCh and BCRP likely to keep rates unchanged

May 13, 2015 23:46 pm UTC| Commentary

The Banco Central de Chile (BCCh) is expected to keep rates at 3.0% on 14 May. The April minutes show that the only policy option discussed was keeping rates on hold, which suggests a united board with a neutral...

Downside risks expected to Hong Kong's Q1 GDP growth

May 13, 2015 22:10 pm UTC| Commentary

Hong Kong will release Q1 real GDP data on 15 May. Headline growth of 2.3% y/y is expected, versus 2.2% in Q4-2014, primarily as a widening merchandise trade surplus offset the continued slowdown in household and mainland...

Japan's CGPI may have contracted as the sales-tax effect faded

May 13, 2015 21:47 pm UTC| Commentary

Japan will release the April domestic corporate price index (CGPI) on 15 May. It is expected to have contracted 2.1% y/y as the impact of the sales-tax hike in April 2014 faded.The CGPI (excluding the sales-tax hike) has...

Euro area GDP grew 0.4% q/q

May 13, 2015 21:40 pm UTC| Commentary

Euro area GDP grew 0.4% q/q. The economist nonetheless finds the data encouraging given the broad based growth. Not since 2010 have all four major European economies of Germany, France, Italy and Spain registered quarterly...