Sonsoles Castillo is Financial Scenarios Chief Economist at BBVA Research. Since 2010 leads a team of economists dedicated to financial analysis and coordinates the preparation of financial forecasts.
She joined BBVA Research in 1997 and during this time he has covered, from different positions, the economic analysis of the US, Europe and emerging economies and central banks, especially the ECB. She has been chief economist at Capital flows from Europe and cross-section analysis of emerging economies.
Previously, she served on the research staff of FEDEA (Foundation of Applied Economic Studies) where she collaborated and co-authored several reports and academic articles and a speaker at financial seminars.
She studied Economics from the University of Alcala de Henares with the number 1 in her class. And then she was awarded a scholarship by the Faculty of Economics of the University of Alcalá for Research Personnel Training.
We expect ongoing easing in global uncertainties, and policy support to sustain flows into EMs, mainly those implementing ‘sound’ policies and with stable currencies. However, concerns over underlying vulnerabilities and the potential for further bouts of cross asset volatility will restrain a sharp recovery in EM inflows.
The President of the European Central Bank (ECB) will be remembered for a number of things, and one of them is never having raised interest rates during his term, and in fact having lowered them to today's negative levels.
In a relatively relaxed press conference- Draghi’s last one as ECB President- , he provided a dovish tone, in line with his entire presidency. He did not give any hints about action to be taken in the short term, trying not to tie the hands of his successor, Mrs Lagarde. We expect the ECB to remain on hold.