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Events
Databanks
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Argentina databank Oct 28
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Brazil Economics databank Sep 15
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Central America databank Oct 29
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Chile databank Oct 29
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China databank Mar 21
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Colombia databank Nov 6
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Dominican Republic databank Oct 21
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Ecuador databank Oct 23
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Gulf Countries databank Nov 7
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Hungary databank Oct 17
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India databank Jun 26
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Mexico databank Oct 21
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Panama databank Jul 17
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Peru databank Nov 4
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Philippines databank Nov 7
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Poland databank Nov 3
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Russia Economics databank Oct 16
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South Africa databank Nov 3
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Turkey databank Oct 27
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Ukraine databank Aug 15
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Venezuela databank Nov 3
NEWS FLASH
UPCOMING WEBINAR - CHILE ELECTION BRIEFING: AFTER THE GENERAL ELECTIONS...
COUNTRY INSIGHTS
Analysts expect no change in MNB interest rates tomorrow
HUNGARY · In Brief · 19 Dec 2022
The Monetary Council is scheduled to hold its last regular rate-setting meeting tomorrow. According to Portfolio.hu's poll, analyst are unanimously betting on no change in interest rates - the 18% O/N depo, the 13% base rate, and the 12.5-25% interest rate corridor. (For sure, the O/N depo rate i...
Core inflation accelerates, with higher service inflation
ISRAEL · Report · 19 Dec 2022
1. November’s inflation print reflects accelerating core inflation, especially in the service sectors. 2. We currently expect a 0.5% rate hike on January 2nd, with inflation accelerating and growth fairly steady. 3. The goods and services accounts reflect a shrinking surplus since the begin...
South Africa's ANC Elects its Top Leadership for the Next Five Years
SOUTH AFRICA · In Brief · 19 Dec 2022
During a highly contested and tense Elective Congress over the past three days, the ANC elected its top leadership who will lead the Party to the next National Elections of 2024. Most importantly, in a much welcome vote of confidence in Ramapaphosa's reform, President Cyril Ramaphosa was re-elect...
Core inflation accelerates with higher service inflation
ISRAEL · In Brief · 18 Dec 2022
19.12.22 Core inflation accelerates to 5.3% Inflation in November was in line with expectations but the underlying trends remain worrisome. Core inflation accelerated to 5.3% y/y from 5.0% in October, with rental prices (OER) up 5.9% from 5.6%. Other services also accelerated. Housing purchase pr...
Intense Russian bombardment as Putin meets army chiefs
RUSSIA / FSU POLITICS · In Brief · 17 Dec 2022
On December 17 Russian missiles rained down on Kyiv, Kharkiv, Poltava and other cities. Ukraine says 40 missiles were fired at Kyiv and 37 were shot down. Ukraine is happy about its increasingly sophisticated air defense. Nonetheless it cannot stop all missiles and drones. Russia was attacking en...
Russian diplomat in Africa injured by letter bomb
RUSSIA / FSU POLITICS · In Brief · 17 Dec 2022
On December 16 a letter bomb in Central African Republic (CAR) wounded the head of the Russian cultural center. The letter addressed to him said, ''It was from all the French: the Russians to get out of Africa.'' The diplomat had already received death threats. The head of the Wagner mercenary gr...
GULF WEEKLY: Gulf mirrors Fed hike, UAE and Qatar surpluses in Q3, strong Saudi Q3 growth
GULF COUNTRIES · Report · 16 Dec 2022
A skimmable summary overlaid with our analysis and links. Headlines: * Oil rebounds partially as IEA lifts 2023 demand forecast. * All Gulf states bar Kuwait mirrored the Fed’s 50bp hike. * China faced criticism from long-time ally Iran for appearing to favor Gulf states. * Saudi non-oil GD...
Cortizo announces the intervention of the government in the commercial operations of Minera Panama, stopping production without a timetable to resume sales
PANAMA · In Brief · 16 Dec 2022
The Cabinet approved yesterday Resolution 144 that instructed three Ministers (Labor, Environment, and Commerce) to intervene in the operations and commercialization of copper mining in northern Panama after the failed renegotiation of the existing contract between Minera Panama (a subsidiary of ...
It’s Only the Beginning
VENEZUELA · Report · 16 Dec 2022
After the November 26 signing by Nicolás Maduro government and the delegation of the Unitary Platform their humanitarian agreement, heated rhetoric fills the air. The parties seem not to have the will or sense of urgency needed to move forward in the process. Although talks continue in Caracas...
Kazakhstan macro: The reality may look somewhat better than statistics show
KAZAKHSTAN · Report · 16 Dec 2022
Despite several shocks, as well as elevated and uneven inflation, the Kazakh economy has performed relatively well, having weathered mini-storms associated with scheduled maintenance work on the country’s two main oilfields and problems with the CPC. At a glance, it looks as though in November, t...
Road to disputed Azerbaijan region blocked
RUSSIA / FSU POLITICS · In Brief · 16 Dec 2022
On December 15 Russia voiced its disquiet because of heightened tension between Azerbaijan and Armenia. A road connecting Armenia to Nagorno Karabakh has been blocked since December 11. Nagorno Karabakh is home to 120,000 ethnic Armenians and virtually no Azerbaijanis but it is legally part of Az...
Ukraine defends the east as Russia warns West against arms shipments
RUSSIA / FSU POLITICS · In Brief · 16 Dec 2022
On December 16 Ukraine was successfully defending itself in the Donbas. Russia is trying to take Bakhmut. On December 15 Ukraine said there were 23 air strikes and 4 missile strikes against Kharkiv but minimal damage was done. On December 15 Kherson was deprived of all electricity due to Russian...
Policy rates up by 50bp
PHILIPPINES · In Brief · 16 Dec 2022
As widely expected, the Monetary Board of the BSP raised its set of policy rates by 50bp effective tomorrow. This brings the key overnight rate to 5.5%, the highest since end-2008. During the Q&A, BSP Governor Felipe Medalla said that there is no basis for ruling out further rate increases next y...
Webinar replay: Monetary policy balancing act: Brazil, Chile, Hungary, and Turkey
BRAZIL ECONOMICS · Report · 16 Dec 2022
Four countries — Brazil, Chile, Hungary, and Turkey — exhibit the full range of dilemmas faced by central banks in emerging markets. Visit our calendar page to watch the replay of our analysts as they discuss how these countries will navigate their monetary policy challenges going into 2023 in ...
Two more ministers of the STF still need to vote on the rapporteur’s amendments case, the Senate should vote on the bill that provides for new rules for the rapporteur’s amendments, and the House should vote on the Transition PEC on Tuesday
BRAZIL POLITICS · Report · 16 Dec 2022
So far, nine ministers have voted on the rapporteur’s amendments case. The score is 5-4 against the rapporteur's amendments. Ministers Ricardo Lewandowski and Gilmar Mendes still need to vote. Minister Rosa Weber, president of the STF, postponed the conclusion of the trial to next Monday, followi...