Iceland The Nordic central banks (Sweden, Norway and Denmark) announced on Friday that they would enter into a swap facility with the Icelandic central bank. The agreement is for up to €500mn, which gives Iceland the right to buy EUR with ISK. Riksbank Governor Ingves said that the arrangement is aimed at supporting the Iceland [...]
Emerging Markets Update - May 16 2008
May 16th, 2008 · No Comments
Tags: EM Market Overview
The Asian Development Bank will hold its annual meetings this weekend
May 4th, 2008 · No Comments
The Asian Development Bank will hold its annual meetings this weekend. The key issues addressed will include the recent rise in commodity and rice prices. Indeed, inflation in the 10 major Asian economies accelerated to 6.9% yoy in March, with food prices rising a whopping 13.5% yoy. In addition, finance ministers from South Korea, Japan [...]
Tags: Emerging Market Strategy
Latin America: Hawkish Central Banks in Brazil and Mexico
April 18th, 2008 · No Comments
Brazil: The monetary policy committee (COPOM) hiked the overnight Selic target rate by 50bp to 11.75%. The move was a surprise to most analysts, where 25bp represented expectations. In a brief statement, COPOM clearly demonstrated a desire to be highly preemptive in its approach to restraining inflationary pressures. The decision was designed to “immediately carry [...]
Tags: Latin America