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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Accelerating CPI Prints Pressure BCRP, JPMorgan Update Rate Forecast
- Large surprises yesterday in August CPI data may put further pressure on the central bank who recently hiked rates to 0.5% at the August 12 meeting:
- Peru Lima Consumer Prices Rose 0.98% M/m in Aug.; Est. +0.21%
- Peru Lima Consumer Prices Rose 4.95% Y/y in Aug.; Est. +4.01%
- JPMorgan highlight that the consecutive above-expectation surprises suggest a regime change in terms of both the FX pass-through coefficient and also inflation expectations.
- They see the August adjustment as insufficient and now believe the BCRP should step up the tightening pace to provide a clear signal preventing further de-anchoring of inflation expectations.
- JPM now forecast a 50bp hike in the next monetary policy meeting, and the risk is for 75bp hike if inflation expectations move more than 25bp higher.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.