MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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

Scotiabank Note Stronger Growth Trend, Expect 50BP BanRep Hike

COLOMBIA
  • On Monday, the statistical agency (DANE) published the main GDP proxy, which shows that economic activity expanded by 8.6% y/y, above the Bloomberg consensus of 7.5% y/y. The sectors that contributed to the positive annual reading in August were the secondary sector and services, but there was also a significant recovery in the primary sector.
  • The August ISE reading suggests that economic growth continues, albeit with moderations in services sectors such as commerce and hotels, which is healthy for overall economic growth. The recovery of the construction sector is expected to be strong for the remainder of the year, especially in civil works. The services sector remains strong, but to a lesser extent, and Scotiabank expect this trend to continue as inflationary pressures persist, the cost of consumer credit rises, and statistical base effects fade.
  • That said, Scotiabank now expect 7.6% growth by 2022. In terms of interest rates, Scotia are expecting an increase of 50bps at the October meeting but with an upward bias of 100bps given that activity continues to show a solid performance.
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.