Chief Economist, Emerging Markets Fixed Income Strategy
Understanding the macroeconomic nuances of the emerging markets takes a keen eye, developed over years of practice. However, more importantly, the ability to translate and clearly communicate the ramifications of these trends is an innate skill. Natalia combines these qualities through sharing her daily views on the emerging markets.
Turkey raised its inflation forecasts but there is little appetite for another policy rate hike. South Africa’s medium-term budget looked realistic, but execution risks remain.
China introduced further measures to increase volatility on the exchange rate market. The Turkish currency weakened further as the market questioned the policy mix.
Mexico’s pace of rebound moderated in August – do authorities have political will to use the available policy space? Turkish assets are under pressure again, as the market is unhappy about the overall policy direction.
Mexico’s President calls for lower interest rates. Argentina’s external accounts show a lack of adjustment despite the deep recession.