Ahead of the first MPC meeting of 2014, the Bank of Ghana issues new details on FX regulations
• Existing regulations regarding export proceeds are restated
• Rules on the operation of foreign-currency accounts are modified
• Foreign-exchange bu...
Top 3 data/events
• Australia – RBA minutes to reflect its cautious view
• Turkey – CBRT set to leave its policy rate on hold at 4.5%
• Ghana – Pace of fiscal consolidation will be closely watched
• Market focus
• China rolls out biggest econo...
• A conversation with the Honourable Minister, Seth Terkper, Ghana’s Minister for Finance and Economic Planning, on the macroeconomic outlook for the country.
• With a diversified economic base, and oil and gas output set to expand, the outlook fo...
• The Fed’s decision to postpone tapering QE in September led to a relief rally in some markets. In others, the focus on more negative credit fundamentals remains. With tapering of QE still expected eventually, we look at the underlying trend in mor...
• Slower H1 GDP suggests that last year’s public-sector wage hikes did not have a lasting impact on growth
• Utility and fuel price adjustments are encouraging, but a large debt service burden and weak budget flexibility will curb pro-growth spendi...
To paraphrase Mark Twain, the reports of the death of EM bond markets have been greatly exaggerated. Increased global allocations to local EM bond markets have been not cyclical but primarily structural in nature, reflecting these markets’ rising ec...
Most countries now aim to achieve ‘sustainable development’, not just maximum GDP growth. But what does this mean? How can it be measured? And how does it relate to the concept of human well-being and to ‘happiness economics’?
• We present a new St...
Top 3 data/events
• Taiwan – Q2 GDP data should show a more rapidly expanding economy
• Ghana – Prime rate on hold, other measures watched
• Switzerland – Another rise in KOF index reflects consumption strength
• Market focus
• This week’s FO...
• Anticipated headline growth rate of c.8% is likely to mask some slowdown in the non-oil economy
• Measures aimed at helping fiscal consolidation will nonetheless contribute to short-term price pressures
• A weaker outlook for key commodity expor...
• Local fundamentals are likely to prevail now that some element of an early tapering of QE is priced in
• We remain Overweight FX and duration on Nigeria on supportive fundamentals and valuations
• We also maintain an Overweight duration stance o...
If this is a public computer please consider checking this box carefully.
Please access our research via your Straight2Bank account
This report provides an economic outlook for more than 60 economies worldwide and investment implications for commodities, credit, equities, FX and interest rates markets in 2014. We expect a better 2014, with world economic growth picking up and inflation staying benign. Global growth should increase to 3.5% in 2014 from 2.7% in 2013, helped by improvements in economic activity in the US and Europe. A pick-up in growth in the West is good news for the rest of the world, and we expect emerging economies’ growth to outpace G7 growth by almost 4 percentage points.
About Standard Chartered
Group investor relations
Group media centre
WB media centre
Copyright © 2014 Standard Chartered Bank