China's Politburo flags "moderately loose" monetary policy, the first shift in policy stance since '11, as the economy continues to struggle with well-known headwinds.
๐บ๐ฒโ ๏ธ With the market so focused on Trump-related inflation risks, a below-expected CPI reading would help firm December cut pricing, with Powell noting that overall recent figures suggest the FOMC is on track to meet its 2% target.
- Conversely, a well above-expected core CPI print would fuel speculation that the Fed will take increasing care in dialling back restriction.
- Fed funds futures currently price 16.5bp of cuts for next month and 70bp through the end of โ25.
- Full @MNIMarketnews preview: https://t.co/qtH9Wf1mDd
- Sell-side forecasts ๐๐ป
๐ฅ MNI UK Inflation Preview, Oct 24:
- The MPC will watch the data closely โ particularly following Baileyโs comments that the BoE could be โa bit more activistโ if inflation good news continues.
- Year-end BoE pricing points to a real risk of faster easier over Q4, raising the importance of this week's release.
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๐ฌ๐ง Ipsos: 52% of Britons are unfavourable towards Starmer (joint highest as Labour leader)
- Labour goes from +6 net favourability upon taking office to -21
- When asked to give the government a score between 0 & 10, Octoberโs score is 3.8 vs. 4.4 in Sep
https://t.co/xUwEEOgiLU
๐จ๐ณ Chinaโs deflationary problems became more entrenched in September, with consumer prices still weak and factory gate prices continuing to fall - BBG
https://t.co/4izWGVl18j
๐จ๐ณ Four of China's biggest state-owned banks announced cuts on Saturday to existing mortgage rates starting on Oct. 25, as the authorities ramp up efforts to stimulate the world's second-biggest economy - RTRS
https://t.co/Jku7g34OxK
๐จ๐ณ China moved to further ramp up support for the economy, promising more aid for the slumping property sector and indebted local governments. But officials still havenโt convinced economists that theyโre doing enough to defeat deflation - BBG
https://t.co/OPEjvSnq26