LONDON : Central banks across major developed and emerging economies took a breather in August with the pace and scale of interest rate hikes shifting another gear lower as diverging growth outlooks and inflation risks muddied the outlook ahead.August - often a more quiet month for monetary policy decisio
LONDON : Central banks across major developed and emerging economies took a breather in August with the pace and scale of interest rate hikes shifting another gear lower as diverging growth outlooks and inflation risks muddied the outlook ahead.
But the outlook ahead was murky, with surprisingly resilient U.S. data contrasting with disappointing numbers from China and much of Europe and markets searching for clues when major central banks could embark on easing rates. Across developing economies, more evidence emerged that the turn of the rate cycle was well established in some regions. Brazil's central bank kicked off its rate-cutting cycle with a more aggressive-than-expected 50 basis point rate cut. Latin America's biggest economy followed in the footsteps of Chile in July and smaller peers Costa Rica and Uruguay in recent months.
Turkey delivered a super-sized 750 bps rate rise in August while Russia lifted its benchmark by 350 bps and Thailand added 25 bps.
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