Global policy rates:Changes to rates and HSBC forecasts
类型：投资策略 机构：香港上海汇丰银行有限公司 研究员：香港上海汇丰研究所 日期：2017-06-14
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In Russia, we expect the central bank to front-load its easing with two 50 bps cuts in Q2 and Q3 2017 followed by five 25 bps cuts taking thepolicy rate to 7.00% by the end of 2018. While household inflation expectations are lower, it is still far away from the inflation target so we do notexpect a deeper rate cutting cycle.
The Brazilian central bank cut the SELIC by 100 bps in line with our expectations. We expect the rate to fall to 7.50% by the end of 2018following cuts of varying sizes in 2H 2017 and 2018.
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