MNI BRIEF: US Labor Costs Increase 0.9%, Below Expectations

MNI BRIEF: ADP's Richardson Sees Normalizing US Labor Market

CANADA FLASH Q2 GDP ANNUALIZED +2.2%

MNI China Daily Summary: Wednesday, July 31

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -3.44M TO 433.0M JUL 26 WK

MNI: US NAR JUN PENDING HOME SALES INDEX 74.3 V 70.9 IN MAY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Goldman Sachs Still Foresee 50Bp BCRP Rate Hike Next Week

PERU
  • Annual inflation declined 74bp to 5.68%, nevertheless it remains visibly above the 3.0% upper limit of the central bank’s 2% ± 1.0% inflation target band.
  • In turn, core inflation excluding food and energy registered a -0.16% mom variation, driving annual core ex-food and energy inflation down to 3.08% yoy from 3.24% yoy in December, also above the demanding 2.0% target.
  • In their assessment, going forward inflation will rise further and remain elevated with the headline print likely to peak close to 7% during 2Q2022.
  • In consequence, their view is that additional rate hikes are warranted given the challenging inflation outlook and heightened policy and political uncertainty and risk.
  • All in all, given that the policy rate is still at a low 3.00% and the ex-ante real policy rate has remained negative, additional rate hikes would still maintain an accommodative/expansionary monetary stance in coming months.
  • In consequence, despite the low monthly inflation print at this juncture GS anticipate another 50bp hike at next week’s MPC meeting, bringing the policy rate to 3.50%.
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.