The ECB will implement QE with some flexibility
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At today’s monetary policy meeting, the ECB left the key policy rate unchanged at 0.05%. As regards non-standard measures, the central bank provided further details on the implementation of the public sector purchase program (PSPP), announced at the 22 January meeting. On general lines, the programme will be flexible in its implementation, in order to achieve the EUR60bn of monthly purchases combined of public and private sector securities. This ...
Chile: Imacec at 2.7% YoY support additional upwards revision in GDP growth expectations of market consensus
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The monthly economic activity increased 2.7%YoY in January, in line with market expectations and slightly below ours (+3.1% YoY). The result ...
Brazil hikes the Selic rate by 50bp; BRL weakness, inflationary pressures and the political environment behind ...
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Also in Brazil industrial production grew more than expected in monthly terms, in our opinion a punctual correction following the declines ...
China lowered its 2015 growth target to 7.0%
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On today’s opening of the National People's Congress (NPC), China’s Premier Li Keqiang gave his speech of the central government’s ...
Latin America Economic Outlook. First quarter 2015
Growth in LatAm will nudge upwards, albeit slowly, held back by lower commodity prices. Activity in the region should rise from 0.8% in 2014 to 1.5% and 2.4% in 2015 and 2016, pulled up by greater growth worldwide and heavier public investment in the Andean countries. The Pacific Alliance will grow by 3.6% and 3.8% in 2015 and 2016.The central banks continue to show a looser bias given the cyclical weakness and could even disengage from the Fed rate hikes, apart from in Mexico. Such a move would adversely affect capital inflows to Latin America. The weaker ...
Another 50bp adjustment of the SELIC rate
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As in the previous two meetings, the Monetary Policy Committee (COPOM) decided to hike the SELIC rate by 50bp to 12.75% (vs. 7.25% two years ...