They tend to restructure their portfolios more frequently. It is also necessary to support local bond markets on the supply side. This would include opening markets to foreign issuers, including or starting with IFIs, which would improve the range of high-rated instruments in local currency.
However, since the last quarter of this year, statistical base effects related with the new level of oil prices are expected to start to increase inflation, as reflected in the forecast of 1.4% growth, just published by the EU Commission.