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Top 3 data/events
• Japan – CGPI may have contracted as the sales-tax effect faded
• Hong Kong – We expect downside risks to Q1 GDP growth
• Latam – We expect the BCCh and BCRP to keep rates unchanged
• Market focus
• We expect no BoK rate cut in May; new data may lead to easing later...
Digital technology is transforming the economy and society. Adoption, not invention, has the most economic impact. Technology can lift developed countries if they embrace change. New technologies offer more opportunities than challenges for emerging markets.
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