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Tough Choices For Russia

Russia's currency crisis has abated since December 16 when the currency lost 35% of its value versus the US dollar at one point despite FX intervention and aggressive monetary tightening by the...

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OPEC's Decision: Global Implications

Our expectation that OPEC would coordinate modest cuts in production has not played out, with the group deciding to maintain the 30mn b/d ceiling and let the markets take their course. Our risk...

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The PBoC Awakens

The People's Bank of China (PBoC) eased monetary policy unexpectedly on Friday, November 21, lowering its benchmark one-year lending rate by 40bps to 5.60% and the deposit rate by 25bps to 2.75%,...

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Japan: Abe's Election Gamble

Japanese Prime Minister Shinzo Abe's decision to call an early general election for December 14, 2014 is aimed at renewing his mandate to pursue his 'Abenomics' programme, while taking advantage of...

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