CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

BBVA On The Lower Than Expected Lima CPI Data and BCRP

PERU
  • Although January is a month in which inflation is seasonally low, it was even lower than BBVA had anticipated (0.20% m/m).
  • The result was explained, mainly, by the seasonal correction in the prices of transport and some foods (poultry meat, for example) after the high demand that they usually register during the end-of-year holidays, aided by PEN appreciation, and despite the strong increase in fruit prices, something that is also usual in this part of the year.
  • BBVA estimate that inflation in year-on-year terms will remain at high levels in the coming months, even closing the year outside the central bank's target range (around 3.4%).
  • The persistent inflation above the target range, the de-anchoring of inflationary expectations, and the tendency of the negative output gap to close (according to their estimates, it will be practically closed in 2023) lead BBVA to anticipate that the Central Bank will continue tightening the monetary position in the coming months, directing it towards a level even above the neutral, placing the policy rate around 4.50% before the end of H1, 2022.
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.