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Turning the screw in Brazil
Weekly investor research
26 May 2015
Brazil’s parliament approves more spending freezes and tax hikes to help bring the economy back to health. China announces
another step forward in capital account liberalisation. Russia’s economy weakens, but prices rather than quantities appear to be
taking the brunt of the adjustment. Malaysia’s inflation rate doubles in a month as GST takes effect. Ukraine’s parliament votes
to give the government the option of a moratorium as debt negotiations continue. Poland’s new president sends a warning sign
to the governing Civic Platform party ahead of parliamentary elections later this year. Away from Emerging Markets, Janet Yellen
cheers on the US economy as she must, while Europe struggles with leftist populists in the south.
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