This morning, risky assets have been selling off - most notably the Japanese stock market is down more than 7%. The sell-off has continued in European trading, with European stocks trading sharply lower, the yen and Swiss franc stronger and emerging markets generally under selling pressure.
Hungarian central bank continues to cut
The Monetary Policy council meeting in Hungary should be 'business as usual' next week. It is broadly expected (and also our expectation) that the Hungarian central bank (MNB) will continue its monetary easing, and slash the key policy rate by another 25bp to 4.50% at next week's monetary council meeting.
Russia: tight monetary conditions impede growth
We were disappointed by the Russian Central Bank's decision to keep the most important policy rates on hold last week. Despite the fact that current headline inflation is elevated, easing inflation pressures depict a rather benign inflation outlook for Russia. Moreover, more accommodative monetary policy is needed to support economic activity - investments in particular.
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Chinese Weakness And Monetary Policy Uncertainty Trigger Sell-Off
Published 05/23/2013, 08:44 AM
Updated 05/14/2017, 06:45 AM
Chinese Weakness And Monetary Policy Uncertainty Trigger Sell-Off
EMEA FX: Chinese weakness and monetary policy uncertainty triggers sell-off
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