EM central banks may start rate cuts mid-2023 as inflation cools off – NonSell.com

EM central banks may start rate cuts mid-2023 as inflation cools off


Sumary of EM central banks may start rate cuts mid-2023 as inflation cools off:

  • In India, the Reserve Bank is widely expected to continue raising the policy rates when it meets early in December after failing to meet its inflation mandate.
  • While central banks of Turkey and Russia have been cutting rates for several months, several countries running large current account deficits such as Hungary, Romania, Chile and Colombia could tighten more than expected in the current cycle, he added.
  • Elevated inflation will mean that policy will stay compact over the coming months, but the conditions for several EM central banks to begin cutting rates could be in place by the middle of next year, he said.
  • Indias headline retail inflation rate fell to a three-month low of 6. 77 percent in October from 7. 41 percent in the previous month on a favourable base effect, data released on November 14 showed.
  • India raised its key policy repo rate by 190 basis points since early May.

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