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Fed up - almost out of excuses not to hike
Weekly investor research
09 November 2015
The Fed has now almost run out of excuses not to hike in December and we think the prospect of more conventional
monetary policies in the US will be good for Emerging Markets (EM), not least because it ends the uncertainty surrounding
the timing of the start of the rate hike cycle. Meanwhile, in EM itself, the election in the state of Bihar hewed away some of
Modi’s political capital in India, China’s FX reserves rise again, the trade balance in Brazil improves sharply and Saudi Arabia
begins to cut subsidies.