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21 Aug 2015
PBoC aftermath in EM's - BBH
FXStreet (Guatemala) - Analysts at Brown Brothers Harriman offered a sap shot at the emerging market in the aftermath of the PBoC devaluing their Yuan's reference rate by 2%.
Key Quotes:
"1) The PBOC signalled more stability in the yuan, and that is what we got.
2) The official survey by the Brazilian central bank is now showing an average forecast for 2016 GDP in negative territory for the first time.
3) There are several takeaways from mass anti-government protests in Brazil last Sunday.
4) The Turkish central bank kept all rates unchanged yesterday, but released a road map to simplify is monetary policy framework.
5) Vietnam’s central bank decided to devalue the currency for the third time this year, while Kazakstan moved to a free floating regime.
6) Poland is starting to move backwards on its economic programs.
7) Tensions on the Korean peninsula have flared up. "
Key Quotes:
"1) The PBOC signalled more stability in the yuan, and that is what we got.
2) The official survey by the Brazilian central bank is now showing an average forecast for 2016 GDP in negative territory for the first time.
3) There are several takeaways from mass anti-government protests in Brazil last Sunday.
4) The Turkish central bank kept all rates unchanged yesterday, but released a road map to simplify is monetary policy framework.
5) Vietnam’s central bank decided to devalue the currency for the third time this year, while Kazakstan moved to a free floating regime.
6) Poland is starting to move backwards on its economic programs.
7) Tensions on the Korean peninsula have flared up. "