RBA SAYS SOME UPSIDE INFLATION RISKS HAVE EASED.

MNI: RBA LEAVES CASH RATE AT 4.35%

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1896 Tues; -1.71% Y/Y

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

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

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

BCRP Decision Prompts Sell-Side to See Further Rate Hikes

PERU
  • JP Morgan write that the BCRP insisted on pursuing a stable tightening pace, aiming to prevent additional inflation expectations deanchoring by taking comfort in the observed gap between headline and core inflation.
  • However, they add that even if realized inflation embarks on a downward trend starting this month, the central bank would likely find optimal to tighten monetary conditions further, so for inflation expectations to ease ahead. As such, they add 75bps in additional hikes, of which 50bp in August and 25bp in September, so for the policy rate to climb to 6.75%.
  • Goldman Sachs see the decision as in line with expectations, retaining their data-dependent stance and as well as noting that they would be particularly attentive to new data on inflation and its determinants. In their view, inflation has continued to surprise to the upside and the outlook remains challenging.
  • They believe the MPC will continue to raise the monetary policy rate in 2022 to reach a terminal level of 7.00% and expect monetary policy to remain moderately restrictive (slightly above neutral) over the relevant policy horizon.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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.