Emerging Markets Briefer
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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
- Global rebalancing underway
Published On Mon, Jun 15 2009, 14:56 GMT - Sell in May and go away?
Published On Fri, May 15 2009, 15:41 GMT - FX trading recommendation - Sell CHF/TRY
Published On Thu, Apr 30 2009, 09:48 GMT - IMF to boost EM liquidity
Published On Wed, Apr 15 2009, 17:08 GMT - Ray of light in the darkest hour
Published On Fri, Mar 13 2009, 15:13 GMT
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