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Emerging Markets Briefer
The credibility game intensifies
Fri, Jul 4 2008, 14:48 GMT
by Danske Research EmergingMarkets Team
Tougher times for policymakers
- • In the June edition of Emerging Markets Briefer we made the argument that in todays world of slowing global growth, rising inflation and an ongoing credit crisis, it is extremely important that economic policies be credible. We still believe this theme is extremely important, and market developments in the past month clearly underline this fact.
- • With the global economic and financial environment worsening, policymakers will be tested to a much greater degree than generally has been the case over the past decade - or at least the past 6-7 years. This will particularly be the case in Emerging Markets.
Inflation has yet to peak
Weak institutions increase risk of policy mistakes!
- • Examples of countries where central banks are doing the right things are Hungary, Poland, Brazil, Mexico and Indonesia.
- • Examples of countries where monetary policies are more doubtful are Ukraine, Kazakhstan, India, Philippines, South Africa and most certainly Argentina.
- • Market performance will be very much related to the course of monetary policies in the time ahead. We expect markets where central banks act prudently to outperform.
In Asia Indonesia is rewarded for doing the right thing
Published on Fri, Jul 4 2008, 14:51 GMT
Archive
- Dollar-bloc currencies back in favour
Published On Mon, Aug 18 2008, 07:05 GMT - The credibility game intensifies
Published On Fri, Jul 4 2008, 14:48 GMT - The credibility game
Published On Tue, Jun 3 2008, 08:37 GMT - Who will benefit if the dollar shines?
Published On Thu, Apr 10 2008, 14:54 GMT - Central banks react to currency weakness
Published On Thu, Apr 3 2008, 08:27 GMT
Danske Bank
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http://www.danskebank.com/ | danskeresearch@danskebank.com
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This publication has been prepared by Danske Bank for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. Danske Bank, its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein. Danske Bank's research analysts are not permitted to invest in securities under coverage in their research sector. This publication is not intended for private customers in the UK or any person in the US. Danske Bank A/S is regulated by the FSA for the conduct of designated investment business in the UK and is a member of the London Stock Exchange. Copyright () Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.Interested in forex trading? forex brokerage firms!
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Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.
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