{"id":15461,"date":"2012-10-10T17:44:39","date_gmt":"2012-10-10T15:44:39","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/emerging-markets-stocks-slip-zloty-tumbles-on-rate-cut-talk\/"},"modified":"2012-10-10T17:44:39","modified_gmt":"2012-10-10T15:44:39","slug":"emerging-markets-stocks-slip-zloty-tumbles-on-rate-cut-talk","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-stocks-slip-zloty-tumbles-on-rate-cut-talk\/","title":{"rendered":"EMERGING MARKETS-Stocks slip; Zloty tumbles on rate cut talk"},"content":{"rendered":"

\t\t<\/span><\/p>\n

LONDON<\/span> Oct 10 (Reuters) – The Polish zloty fell half a
\npercent on Wednesday, after comments by central bank board
\nmembers increased expectations of a rate cut at the next policy
\nmeeting, while South Africa’s rand steadied following a 1.5
\npercent bounce in the previous session.<\/span><\/p>\n

<\/span><\/p>\n

Polish central banker Andrzej Bratkowski called for a 75
\nbasis point cut to interest rates by the end of the year, adding
\nthat “nothing terrible would happen” if the zloty weakened.
\nMonetary Policy Council member Jerzy Hausner was quoted as
\nsaying data would point to the need for a rate
\ncut.<\/p>\n

<\/span><\/p>\n

Poland held rates last week but is expected to cut in coming
\nmonths. The comments pushed 2-year and 5-year bond yields lower.<\/p>\n

<\/span><\/p>\n

“The zloty is being punished by the very dovish comments
\nwhich make a November rate cut much more likely and they may
\neven go down the road of a 50 basis-point cut at the next
\nmeeting,” said Carolin Hecht, a strategist at Commerzbank in
\nFrankfurt.<\/p>\n

<\/span><\/p>\n

MSCI’s emerging equities fell 0.3 percent, down
\nfor the third day in a row, due to worries over world growth.<\/p>\n

<\/span><\/p>\n

The Serb dinar meanwhile rose more than half a percent
\nagainst the euro to new 3-1\/2 month highs after the central bank
\nraised interest rates on Tuesday to 10.75 percent, surprising
\nsome in the market who had expected rates to stay on hold.<\/p>\n

<\/span><\/p>\n

The dinar has risen for six straight sessions.<\/p>\n

<\/span><\/p>\n

The South African rand firmed slightly moving
\nfurther away from recent 3-1\/2 year lows as some striking
\nworkers agreed to return to work.<\/p>\n

<\/span><\/p>\n

Central bank Governor Gill Marcus said the country’s
\neconomic outlook was deteriorating rapidly. Many
\nsee the fallout from the strikes as forcing rate cuts.<\/p>\n

<\/span><\/p>\n

“We don’t see this move in dollar\/rand as sustainable,”
\nHecht said. “We advise buying on dips as we see more risks of
\nstrikes, especially in the mining sector.”<\/p>\n

<\/span><\/p>\n

Turkish assets, meanwhile, were hit by a weaker industrial
\noutput data and news that a top general had threatened to
\nrespond “with greater force” if shelling from Syria continues to
\nspill across the border. <\/p>\n

(Reporting by Sujata Rao; Editing by Anthony Barker)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON Oct 10 (Reuters) – The Polish zloty fell half a percent on Wednesday, after comments by central bank board members increased expectations of a rate cut at the next policy meeting, while South Africa’s rand steadied following a 1.5 percent bounce in the previous session. Polish central banker Andrzej Bratkowski called for a 75 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15461","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15461"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15461\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}