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IMF to decide on RMB's SDR inclusion today

Weekly investor research

30 November 2015

The IMF Executive Board will meet today to decide whether to include the Chinese renminbi as part of the Special Drawing Right. In Turkey, Mehmet Simsek replaces Ali Babacan as Deputy Prime Minister with special responsibility for economic affairs. In Brazil, the PT party’s Senate leader and a prominent investment bank CEO are arrested as part of the judiciary’s ongoing investigation into illegal campaign funding. In Argentina, President-elect Mauricio Macri appoints a highly credible economic team. The Central Bank of Russia re-introduces 1 year FX repos at Libor+300 and Nigeria’s central bank cuts rates by 200bps to 11%. Global markets are likely to focus on important meetings at the ECB and OPEC, non-farm payrolls and Fed Chairwoman Janet Yellen’s testimony to the US Congress on Thursday.

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