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Events
Databanks
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Argentina databank May 13 -
Brazil Economics databank Apr 14
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Central America databank May 1
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Chile databank Apr 7
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China databank Mar 21
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Colombia databank May 12
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Dominican Republic databank Apr 28
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Ecuador databank Apr 22
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Gulf Countries databank May 9
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Hungary databank Apr 22
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India databank Apr 28
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Mexico databank May 12
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Panama databank May 13
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Peru databank Apr 28
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Philippines databank May 8
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Poland databank Apr 29
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Russia Economics databank May 12
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South Africa databank May 6
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Turkey databank Apr 24
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Ukraine databank May 12
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Venezuela databank May 5
NEWS FLASH
WEBINAR - LATIN AMERICA: FISCAL PRESSURES AND POLITICAL SHIFTS...
COUNTRY INSIGHTS
Inflation already above the CBRT's upper band
TURKEY · Report · 03 Mar 2022
Consumer prices rose by 4.8%, m/m, in February, significantly higher than the consensus forecast of 3.8% (and our even somewhat more optimistic forecast), with the 12-month CPI inflation increasing further to 54.4%, from 48.7% in January. This is the ninth consecutive month of increase in CPI inf...
Presidential candidates call for the government to condemn the war between Russia and Ukraine, party advertisements have begun, and the party window begins today
BRAZIL POLITICS · Report · 03 Mar 2022
The presidential candidates are turning to social media to call for the Brazilian government to take a firmer position and condemn the Russian attacks. In the press, President Jair Bolsonaro's stance has been heavily criticized. Several of the PDT’s ads are going live this week, and Ciro Gomes is...
The MNB raised the sterilisation rate by 75 bps at today's tender
HUNGARY · In Brief · 03 Mar 2022
As we wrote the other day, the MNB was unlikely to tolerate the forint's breaking through the EURHUF 380 line without any action. And yes, the Bank raised the 1-week deposit rate by 75 bps to 5.35% at this week's tender, which is held today (on Thursday, as usual). This is in line with what the M...
UN votes against the invasion of Ukraine as peace movement builds
RUSSIA / FSU POLITICS · In Brief · 03 Mar 2022 · 1 response
On March 2 the UN General Assembly voted to condemn Russia and demand a withdrawal. This is a non-binding resolution. The countries that voted for Russia were Belarus, Syria, Eritrea, Armenia and North Korea. The good news for Russia was the high number of abstentions.It will be a disappointment ...
Russian equity market is frozen
RUSSIA ECONOMICS · In Brief · 02 Mar 2022
The decision of Western countries to freeze assets of the Russian Central Bank, which has been agreed over weekend, became the “surprise” for the local authorities and caused them to implement counter steps. For example, international investors were prohibited from receiving any payments in the f...
War impact on Hungary: Sberbank, OTP, energy prices, car manufacturing, an 'unfriendly country' & the refugee situation
HUNGARY · In Brief · 02 Mar 2022
On the 7th day of the war, there are lots of news reports to react to. Here follows a brief collection of the more important ones.1. The MNB revoked the licence of Sberbank in Hungary, and it will be liquidated, after the latter's parent had been brought under a similar procedure in Austria. The ...
The seventh day of war: the offensive has exhausted
UKRAINE · In Brief · 02 Mar 2022
Over the last day there were no big changes from the North. Belorussian army did not move to Lviv and situation around Kyiv has stabilized after all big military groups of invaders have been destroyed. The main trouble for now are roaming remains of Russian army near Kyiv which are trying to get ...
UK sanctions Belarus as Russian oligarchs call for peace
RUSSIA / FSU POLITICS · In Brief · 02 Mar 2022
On March 2 London said it was sanctioning four senior Belarusian Army officers and two military enterprises. The United Kingdom said this was because of Belarus's abetment of the invasion of Ukraine.Russian soldiers invaded Ukraine from Belarus. Ukraine claims that Belarusian soldiers have invade...
Economic isolation of Russia intensifies
RUSSIA / FSU POLITICS · In Brief · 02 Mar 2022
On March 1 Apple, ExxonMobil, Disney, WarnerMedia, Ford, BP, Shell, Amex, Mastercard, Visa, American Express and Boeing announced that they are leaving Russia or freezing their business there. ExxonMobil was working on the Sakhalin oilfield in the Pacific Ocean. It has operated there since 1995. ...
Alberto Fernández's opening speech at the Congress
ARGENTINA · In Brief · 01 Mar 2022
Today, at the opening session of Congress President Alberto Fernández (AF) gave the traditional Address to the Nation, which is always worthwhile analyzing. As usual for such an occasion, AF was accompanied by Vice President Christina Fernández de Kirchner (CFK), in her role as President of the S...
Forint, BUX sharply down on Ukraine, verbal intervention by MNB
HUNGARY · In Brief · 01 Mar 2022
Apparently, president Putin has decided to break Ukraine's resistance at all cost. At least this is the markets' conclusion from today's war events. Hungarian assets are hit hard: the BUX fell 10%, OTP fell 18%, and the forint dropped to 379.6 against EUR, the weakest ever level, earlier today. A...
Canada bans Russian crude
RUSSIA / FSU POLITICS · In Brief · 01 Mar 2022
On February 28 Ottawa made the announcement and said it was to penalize Russia for the invasion of Ukraine. Canada bought only USD 170 million of Russian oil 2021 so the ban will have minimal impact on both countries. Canada has large oil reserves of its own.What would make a big difference is if...
The sixth day of war: Russians target more civilian deaths
UKRAINE · In Brief · 01 Mar 2022
We have no big changes at the front. Ukrainian army destroyed several more groups of Russian forces which targeted to take Kyiv into circle. Also Ukraine received 70 fight airjets from the EU countries to cover the sky and the jets promptly joined actions already yesterday. A big change that we o...
Belarus referendum allows Russian nukes and extends Lukashenka's power
RUSSIA / FSU POLITICS · In Brief · 01 Mar 2022
On February 27 the vote was held. The result was yes to the reform package. It was claimed that 65% of people voted. This is hard to believe given the apathy of the electorate. The reforms allow Lukashenka to seek more terms in office. They also give him immunity from prosecution for life.The ref...
“Historic” Opposition Declaration: Will it sell in Yozgat?
TURKEY · In Brief · 01 Mar 2022 · 1 response
Turkey’s six leading opposition parties sans pro-Kurdish Rights HDP gathered in a room to sign a Declaration for Democracy (the Protocol), with the lieutenants reading passages from the 19 page document (link to Turkish version is here). First, I classify the promises in three categories:Those re...