National Economic Recovery Program Update
15
10
10
5
0
(5)
(10)
15
10
5
0
(5)
CONTINUOUS MONETARY TIGHTENING REMAINS TO BE MINDFUL IN SEVERAL MAJOR ECONOMIES
While inflationary pressures have been trending down in many emerging economies
USA
Inflation
Policy Rate ▲ Real Int. Rate
LLLLLLLLLL
7.1
4.50
(2.60)
J-22 F-22 M-22 A-22 M-22 J-22 J-22 A-22 S-22 O-22 N-22 D-22
Indonesia
Inflation
Policy Rate
▲ Real Int. Rate
0.00
5.5
5.50
15
10
S
0
(5)
(10)
15
10
5
(5)
Eurozone
Inflation
Policy Rate ▲ Real Int. Rate
UK
Inflation
Policy Rate
▲ Real Int. Rate
(7.50)
2.50
10.0
I II I LLLLLL
15
10
5
(7.20)
10.7
LLLLLLLLLLLE
J-22 F-22 M-22 A-22 M-22 J-22 J-22 A-22 S-22 O-22 N-22 D-22
(10)
J-22 F-22 M-22 A-22 M-22 J-22 J-22 A-22 S-22 O-22 N-22 D-22
India
Brazil
Inflation
Policy Rate
Real Int. Rate
Inflation
Policy Rate
Real Int. Rate
15
5.9
5.9
0.02
10
5
0
(5)
(10)
(10)
(10)
J-22
F-22 M-22 A-22 M-22 J-22 J-22 A-22 S-22 O-22 N-22 D-22
J-22 F-22 M-22 A-22 M-22 J-22 J-22 A-22 S-22 O-22 N-22
Source: Bloomberg
5.9
13.8
7.85
J-22 F-22 M-22 A-22 M-22 J-22 J-22 A-22 S-22 0-22 N-22
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