Financial Markets latest publications
Households did not consolidate their spending pattern and increased their liquid balances again in June, while bank credit reduced the magnitude of its contraction, falling 6.1%.
This week will be of great interest to the global financial markets. As of today begins the annual meeting of Jackson Hole -organized by the Federal Reserve of Kansas City- that brings together financial and monetary authorities of the world
August 20, 2021
China | Understanding the recent hot topics on Chinese economy and financial markets
The report is trying to help to understand the recent important hot topics on Chinese economy and financial markets, including the ongoing regulatory storms, the crucial transformation of China’s industrial policy, the monetary policy independency and the ultimate goal of China’s financial liberalization reform.
May could represent a turning point in the dynamics of total credit to the non-financial private sector, with an aggregate contraction smaller than the one experienced in April and a better performance by portfolios, while bank deposits also showed signs of a change in trend in its dynamics.
Financial markets began the year on a positive note. The progress made in vaccinations, central bank support and the fiscal stimulus programs planned for Europe and the US, helped drive expectations of an economic recovery.
We adjusted our 2021 economic growth forecast from 7% to 6.5%. This year will be notably marked by the midterm elections. The macroeconomic performance of Argentina during the coming years will be defined crucially by the characteristics of the agreement with the IMF, which would take place in 1Q22.
Banco de México reiterated the resilience of the financial system in the face of the adverse shock of the pandemic, as credits granted remain weak (-8.8% YoY in April) and levels of bank deposits remain close to historical highs.
The strategy review has been relatively moderate, introducing a symmetric and clearer (2%) inflatio target, and adopting as permanent the current toolkit. The change has been less ambitious than the one by the Fed. On climate change, the ECB is clearly more committed to specific action, but depends on other institutions