TEST FROM BANK OF CANADA, PLEASE IGNORE

MNI BRIEF: US Existing Home Sales Fall 5.4% To 3.89M In June

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

US Treasury Auction Calendar

BoC Data Watch

EZ/UK T-Bill Calendar: 26-Week GTB Auction on Wednesday

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

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

MNI BSP Preview - May 2024: Still On Hold

BSP
BulletEM BulletEmerging Market NewsHomepage

EXECUTIVE SUMMARY

  • The BSP is expected to keep interest rates unchanged at 6.50% at tomorrow’s policy meeting. This is the broad sell-side consensus. Our firm bias is also with the status quo. The policy rate has been at 6.50% since October last year.
  • Headline inflation remains near the top end of the forecast band, and while domestic growth is cooling, it is likely too early for the central bank to shift in a dovish direction on this basis.
  • Broader sell-side views see the BSP easing cycle commencing late in 2024/early 2025.
  • Click to view the full preview here:
94 words

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.

EXECUTIVE SUMMARY

  • The BSP is expected to keep interest rates unchanged at 6.50% at tomorrow’s policy meeting. This is the broad sell-side consensus. Our firm bias is also with the status quo. The policy rate has been at 6.50% since October last year.
  • Headline inflation remains near the top end of the forecast band, and while domestic growth is cooling, it is likely too early for the central bank to shift in a dovish direction on this basis.
  • Broader sell-side views see the BSP easing cycle commencing late in 2024/early 2025.
  • Click to view the full preview here: