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emerging markets (malaysia (Malaysia's economy grew faster than…
emerging markets
malaysia
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Interest Rate (%)
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It is the first rate cut since July 2016. Policymakers said that the decision is consistent with the monetary policy stance of supporting a steady growth path amid price stability and it is intended to preserve the degree of monetary accommodativeness. The Committee added that they will continue to monitor and assess the balance of risks surrounding the outlook for domestic growth and inflation
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Malaysia's economy grew faster than expected in the first quarter supported by a recovery in the agriculture sector, but weakening global demand and the U.S.-China trade war are seen raising risks for Southeast Asia's third-largest economy.
The economy grew 4.3% in the January-March quarter from a year earlier, Bank Negara Malaysia (BNM) said on Thursday
"Growth is likely to continue slowing in the coming quarters," said Alex Holmes, Asia economist at Capital Economics, citing lower consumer spending and weaker exports.
Public investment declined 13.2% in the first quarter, compared with a fall of 5.9% in the prior quarter while private investment grew a slower 0.4% from 5.8%. Private consumption, typically a big contributor to growth, also slowed.
Last month, global index provider FTSE Russell said it would review Malaysia's market accessibility level in its World Government Bond Index due to concerns about liquidity, which hit the country's financial markets. Morgan Stanley said such a downgrade could see outflows of almost $8 billion from Malaysia.
The measures introduced on Thursday "will partly address some of the reasons for the possible (FTSE) exclusion and would enhance the accessibility of investors to the onshore hedging programme", Governor Nur Shamsiah said.
The stronger-than-expected GDP print and new measures introduced by the central bank to improve market liquidity and flexibility in currency hedging, gave the ringgit a lift. It rose 0.4 percent in early afternoon trade.
On the political front, in early April Malaysia and China agreed to relaunch a cheaper version of the East Coast Rail Link project, which had previously been cancelled by the Malaysian government. This bodes well for long-run growth and economic relations with China.
brasil
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Trade War
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The national statistics institute, IBGE, will release first quarter GDP data on May 30.
Economy Minister Paulo Guedes said the government would cut its 2019 growth forecast to 1.5% from 2.2%
Brazil’s services sector, which accounts for some 70% of economy activity, shrank by 0.7%
But Guedes said that if Congress approved the government’s fiscal reforms, most notably the pension reform bill that aims to save the public purse over 1 trillion reais ($252 billion) over the next decade, annual growth would soon return to 2% to 3%.
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Bovespa traded at 95527.62 on the 2nd of May, however it entered in decline to 91414.08
Behind these key appointments emerges a clear strategy that Bolsonaro had been touting since his candidacy; he wants the state to privatize more assets to lower Brazil’s cost of governing, and that includes Brazil’s crown jewel – Petrobas,
Instead, signs are mounting that the recovery is running out of steam. One quarter of the labor force is either unemployed or underemployed. Industrial production in March had its worst reading in six months, while retail sales in the same period rose less than almost all analysts expected.
pledging to cut debt and propel growth with the help of a pro-market economic team headed by the University of Chicago-trained Economy Minister Paulo Guedes.
Brazil analysts cut their 2019 growth forecasts to the lowest level ever in a signal of mounting investor pessimism in Latin America’s largest economy.
Brazil’s economy will grow by 1.71 percent this year, according to a central bank survey of analysts published Monday, down from 1.95 percent the week prior and 3 percent a year ago. Analysts also lowered their 2020 growth forecasts for the fifth straight week.
In the first three months, the economy contracted 0.68% compared to the end of 2018
The annual inflation rate in Brazil rose to 4.94 percent in April 2019 boosted by cost of food and non-alcoholic beverages and transport (7.31)
desemprego - Abr/30 - 12.7% - aumento de 0.3 p.p., nível mais elevado desde julho de 2018
russia
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The ruble average exchange rate strengthened to 65.1 against the U.S. dollar, gaining 1.6 percent in March compared to the previous month.
On the back of stronger non-oil revenues, the federal budget surplus improved to 2.2 percent of GDP in the first quarter of 2019 from 1.8 percent of GDP in the same period last year.
In the first quarter of 2019, nonoil and gas revenues reached 10.5 percent of GDP compared to 10 percent last year. This was largely the result of a VAT rate increase and a weaker ruble in the first quarter of 2019 compared to the same period last year. The VAT tax rate increase largely affected tax receipts from VAT levied on imported goods and services. The new VAT rate levied on goods and services produced domestically will be reflected in tax receipts starting in the second quarter of 2019.
Oil and gas revenues dropped to 8 percent of GDP from 8.4 percent of GDP in the same period last year, and this was on the back of lower oil prices and tax maneuver in the oil sector.
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