to Indonesia that are lowering borrowing costs as global activity slows. Local policymakers are rushing to the aid of an economy that’s expected to grow less than 1% this year amid headwinds including high unemployment, low confidence and weak investments.
The dovish message should put pressure on the Brazilian real, as further rate cuts reduce the currency’s attractiveness for the carry trade. Local rates should also see a downward adjustment to price in a more aggressive easing cycle, according to Brendan McKenna, a currency strategist at Wells Fargo in New York.
“Markets were really only prepared for a 25-bps cut and then a more patient BCB,” McKenna said. “A 50-bps cut with an intention for easing more is probably going to put pressure on BRL and push yields lower.”Still, policymakers maintained a degree of caution in their comments. Aside from not explicitly committing themselves to more rate cuts, they warned that frustration of expectations over Brazil’s economic reforms could drive inflation higher.
A crucial pension overhaul that seeks to save government coffers some 900 billion reais in a decade will be put to a second-floor vote in the lower house in August before moving to the Senate. Lower house Speaker Rodrigo Maia said on Twitter that the central bank’s rate cut was facilitated by the bill’s advance through Congress.
เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:
ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว
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Business Maverick: SA unemployment rate hits the highest level since the global financial crisisIn the second quarter of this year, South Africa's unemployment rate spiked to 29% from 27.6% in the first quarter, according to data released on Tuesday 30 July by Statistics South Africa. This was the highest level since 2008, when the economy was being battered by the global financial crisis. You know your economy is screwed when … Join the EFF and ANC. Lots of jobs there. As long as unions continue striking for massive increases and trashing and burning property no sane investor will do business in SA especially with our final junk status looming. Unemployment will rise even further. Proudly brought to you by ANC🤣🤣
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Business Maverick: Apple Earnings: iPhone Maker Should Cut Prices DrasticallyStealthy or direct price cuts on iPhones have cushioned the blow for Apple Inc. It should go even further if it’s serious about changing its complexion.
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Business Maverick: Dollar Bears and Trump Both Dealt Blows by Fed’s Hawkish CutWith Jerome Powell downplaying the size and scope of future Federal Reserve rate cuts, the U.S. dollar looks poised to extend its 2019 rally. It’s yet another setback for bears and a move that’s certain to attract Donald Trump’s ire.
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BUSINESS MAVERICK: Consumers drink while retailers keep the tills active and lights onOne in five South Africans is unemployed and economic growth remains anaemic, but retailers manage to grow, demonstrating that they still have some defensive qualities. sashaplanting As usual, analysts ignoring the informal sector.
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BUSINESS MAVERICK: Peter Moyo’s battle with Old Mutual is far from overNow that a high court has ruled that Peter Moyo should be reinstated as CEO, he is still gunning for Old Mutual chairman Trevor Manuel and 12 board members. Moyo wants Manuel and the directors to be declared delinquent under the Companies Act. The board could be fired, which would thrust Old Mutual into a leadership crisis. He must squeeze their jemnandas Good news. Moyo is bad news. Lol you could have acknowledged that he won the case
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