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It's not just the Fed, BoE and.....>

EMERGING MARKETS: It's not just the Fed, BoE and BoJ decisions this week. Also
-Brazil BCB (Weds). SELIC rate exp unch at 6.5%. Focus on statement and whether
bank acknowledge recent economic weakness, which could lead to greater chance of
August/September rate cut. 2020 inflation forecasts will be watched.
-Taiwan CBC (Thurs). Benchmark rate exp unch at 1.375%. Rates seen unchanged,
with CB focused on FX intervention. Rate cuts could come in H2 if trade
uncertainty persists.
-Philippines BSP (Thurs). O/N rate 25bps cut expected to 4.25%. Easing cycle
fully underway. Close call this week after cutting rates last month, but will
remain data dependent.
-Bank Indonesia (Thurs). 7-day reverse repo rate exp unch at 6.0%. CB chief
stated he sees room for a rate cut, but other liquidity tools preferred at
-Colombia BCC (Fri). O/N rate exp unch at 4.25%. Weak Q1 growth data make easing
more likely, but this week seen as too soon with inflation seen stable.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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