The dovish tone of Bank Negara Malaysia (BNM) as it left rates on hold today only strengthens our non-consensus view that policy will be left on hold this year to support the recovery. In contrast, the analyst consensus is for 50bps of tightening, while financial markets are pricing in two to three 25bp hikes.
Drop-In: Turkey’s new economic policy = old problems (Thurs 20th Jan, 09:00 ET/14:00 GMT). William Jackson and Jason Tuvey discuss the economic problems associated with the lira’s collapse, including the government’s policy response. Register here.
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