EM central bank activity this week – BBH

Analysts at BBH have noted this week’s central banks’ activity in the EM space.

Key Quotes

“Russia’s central bank meets Friday and is expected to keep rates steady at 10.5%. Of the 30 analysts polled by Bloomberg, 23 see no change and 7 see a 50 bp cut to 10%. With the ruble remaining firm, we see a small chance of a dovish surprise this week”.

“Hungary’s central bank meets Tuesday and is expected to keep rates steady at 0.90%. It has signaled that rates are on hold for now, but that further easing could be seen with unconventional measures. Deflation risks persist, and so we cannot rule out a resumption in rate cuts too”.