MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bank of America Still Expecting First Rate Cut In October

PERU
  • In Bank of America’s view, Peru is the next country in LatAm whose central bank is most likely to begin the easing cycle. At the August board meeting, BCRP removed the explicit tightening bias from the written statement, which BofA had argued would be the first signal to infer a rate cut is coming. Moreover, central bank policymakers have been giving dovish remarks.
  • Therefore, BofA now expect BCRP to begin cutting rates in October, though they see some risk that this could take place earlier.
  • Inflation expectations currently stand at 3.57%, not far away from the target band. Moreover, economic activity has been on a sustained slowdown. GDP declined 0.5% yoy in 2Q23 after a 0.4% yoy drop in 1Q23 and a 0.2% decline in 4Q22, suggesting that Peru has likely entered a technical recession. This, along with declining inflation, will likely put pressure on BCRP to cut soon.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.