Halister News

(Bloomberg) -- Industrial output likely shrank for a ninth consecutive month in January, which may encourage central bank to lower interest rates when it meets in March, Bloomberg strategist David Finnerty writes.

• Output likely fell -6.05% from year earlier after declining -6.17% in Dec., according to median est. in Bloomberg survey; data due at 4:00pm local time today
• Central bank cut benchmark interest rate by 12.5 bps to 1.625% in Dec.; data released since then showed economy shrank in the last quarter and export orders continued to tumble
• Policy makers will cut benchmark rate, now at 1.625%, to 1.45% this year, according to Bloomberg survey of economists
• NOTE: David Finnerty is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.