Day: March 1, 2021

Transitional UK budget unlikely to rattle markets

The British Chancellor of the Exchequer Rishi Sunak will on 3rd March, at around 12.30 UK time, present to the House of Commons the annual budget for the United Kingdom.

The ruling Conservative Party has a significant working majority of 87 seats in the lower house of parliament and we expect the budget to pass pretty smoothly.Read the rest

FX

Transitional UK budget unlikely to rattle markets

  • The British Chancellor of the Exchequer Rishi Sunak will on 3rd March, at around 12.30 UK time, present to the House of Commons the annual budget for the United Kingdom.          
  • The ruling Conservative Party has a significant working majority of 87 seats in the lower house of parliament and we expect the budget to pass pretty smoothly.  
Read the rest
Politics

NIGERIA: Fuel subsidy makes a comeback

On 1 March, the state-owned Nigerian National Petroleum Corporation (NNPC) announced that domestic fuel prices would remain fixed in March, despite the ongoing oil price rally. Echoing a similar statement in February, today‘s announcement provides the latest indication that the fuel price subsidy, which was ostensibly abolished in March 2020, is back as predicted.… Read the rest

Emerging Markets

WEEKLY POLITICAL COMPASS

In Italy, new Covid restrictions are expected. Ecuador’s presidential election vote recount is being challenged. Talks between Zambia’s government and the IMF end this week. Meanwhile, the UN has criticized China’s human rights record, in the UKthe chancellor will present his budget, Brazil’s senate will seek agreement on a constitutional amendment, and Ghana’sSupreme Court will rule on former president John Mahama’s election petition.… Read the rest

Economics

Argentina: The Summer Ends Without Surprises

Contrary to what the turbulent Argentine history of summer crises could foretell, the summer is ending more calmly than expected. The exchange rate spreads fell, the dollar did not jump sharply and activity is on course for a recovery of around 7% in 2021.… Read the rest

Politics

LATAM PULSE

This week, Brazil debates emergency spending, while another state-controlled entity faces a sudden leadership change. Meanwhile in Ecuador, there is as yet no resolution to the electoral impasse. Argentina’s new congressional session gets underway with the government on the backfoot over a recent Covid-19 vaccine scandal.… Read the rest