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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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Free AccessMNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors
MNI POLITICAL RISK - Thune Eyes 'Deficit-Negative' Legislation
BCRP Decision Thursday, Expected On Hold
- Peru’s central bank are unanimously expected to keep rates unchanged on Thursday, leaving the reference rate at 7.75%. In the March statement the BCRP reiterated that “a downward trend in year-on-year inflation is forecast since March, with a return to the target range in the fourth quarter of this year.”
- March CPI, did indeed fall from 8.65% to 8.40% although this was notably above the 8.00% surveyed median estimate.
- March Lima unemployment rate and February economic activity data are both scheduled for release this coming Saturday.
- JPMorgan note that the policy rate is expected stable through the end of 2Q23. By then, JPM expect the pre-conditions required to reduce the real ex-ante rate to be fulfilled, offering the BCRP the possibility to ease monetary conditions by June (-50bp). The main risk is associated to a new pension fund withdrawal, what may prompt a delay of the easing cycle. The policy rate is expected to converge to 5.5% by December 2023, and 4.0% by 2Q24.
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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.