Emerging-market policymakers have been busily slashing interest rates to heal economies devastated by the coronavirus. With central bank meetings due in some developing economies, expect more cutting.
First — Hungary. It’s expected to trim rates by 0.15 basis points on Tuesday after a surprise June cut.
Slowing inflation may also leave room for South Africa to trim its benchmark rate on Thursday. The same day, Turkey must square its rising inflation with industrial production and retail sales data that show some recovery, but not to pre-COVID-19 levels. Odds are it will keep rates unchanged.
Russia rounds off the grand slam on Friday with central bank chief Elvira Nabullina expected to follow though on her signal for more rate cuts.