The Turkish central bank’s resistance to the deep interest-rate cuts demanded by Prime Minister Recep Tayyip Erdogan is shoring up its independence as policy makers keep the taming of inflation their top priority.
Nigeria’s plan to rebase its gross domestic production figures next year may boost the assessment of the size of its economy by as much as 60 percent, leapfrogging South Africa as the continent’s largest nation in terms of total wealth, Renaissance Capital Ltd. said.
The euro has lost its allure for nations in central and Eastern Europe with floating currencies as their borrowing costs fell below those in some euro region states because of the Greek crisis, said ING Groep NV.
HSBC Holdings Plc, which gets more than half of its revenue from emerging markets, says it’s time to start buying their currencies after a selloff pushed exchange rates to their lowest levels since 2009.
Poland’s economy may grow 2 percent next year, half the government’s forecast, as western European banks hurt by the euro crisis curb lending and slower global growth damps demand for exports, Renaissance Capital said.