Currency War Series

Currency War Series

China's GDP for 2015 likely to be 6.8%, more RRR cuts to come till H1 16

Dec 01, 2015 04:02 am UTC| Commentary

Chinas November official manufacturing PMI dropped to 49.6, slightly below the market consensus expectations of 49.8. Looking all over, the subdued PMI readings indicate weakness in underlying pace of the countrys growth...

Currency War Series

BoK likely to deliver another 25 bp rate cut in Q1 2016

Dec 01, 2015 03:53 am UTC| Commentary

The broader trend remains unchanged in Korea. The domestic demand and services being stabilized after MERS outbreak, but the challenging export environment and some payback in private consumption might slow down the growth...

Currency War Series

ECB to cut deposit rate 10bp, extend QE by three months

Nov 30, 2015 23:56 pm UTC| Commentary Central Banks

The ECB is expected to announce a 10bp cut of the deposit rate to -0.3%, a three-month extension of the QE program to December 2016, and an increase in the monthly pace of purchases by 10 billion to 70 billion per month....

Currency War Series

Brazil's COPOM to keep policy rates stable

Nov 30, 2015 22:17 pm UTC| Commentary Central Banks

Last week brought renewed uncertainty on the Brazilian policy outlook. A new round of arrests in the Carwash probe raises questions about the feasibility of passing fiscal measures. At the same time, COPOM delivered a...

Currency War Series

ECB expectations adding pressure on euro

Nov 30, 2015 11:56 am UTC| Commentary Central Banks

When the ECB launched its 1.1trillion QE programme in March, purchasing 60bn of bonds a month, euro area inflation stood at a minus 0.1pct and has since climbed to 0.1pct, well below the ECB target. In a speech last week...

Currency War Series

RBA likely to end the year on hold

Nov 30, 2015 09:27 am UTC| Commentary Central Banks

There is final Reserve Bank of Australias meeting tomorrow, in which the Governor speaks on the economy the next day, just before the release of the GDP for third quarter of this year. We still expect the RBA to remain...

Currency War Series

Poland's NBP likely to cut rates by 50bp in Q1 16

Nov 30, 2015 09:16 am UTC| Commentary Central Banks

Poland economy was under deflationary pressure in October with the CPI inflation reading at 0.7% y/y. The negative growth rate in price level is expected to continue in November also. The CPI deflation is expected at -0.4%...