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Consumer inflation expectations in the euro area rose to 2.5% for the next 12 months in October, up from 2.4% in September, according to the European Central Bank. The three-year inflation gauge remained steady at 2.1%, slightly above the ECB's target, reinforcing calls for a cautious approach to interest rate adjustments.
Karnataka Chief Minister Siddaramaiah met Prime Minister Narendra Modi, urging for urgent clearances for the Mekedatu Balancing Reservoir and Kalasa Bandhuri projects, along with a request for Rs 10,000 crore in financial support. He highlighted a significant reduction in short-term farm loan limits by NABARD, which could adversely affect farmers, and sought Rs 5,300 crore for the Upper Bhadra Project to aid drought-prone areas.
North Korean leader Kim Jong Un's reliance on Russia for economic support may backfire if Donald Trump successfully ends Vladimir Putin's war in Ukraine, a study from a South Korean think tank suggests. As Moscow strengthens ties with Pyongyang through military and economic exchanges, North Korea has provided troops and ammunition to support Russia, while receiving financial aid and military enhancements in return.
India's central bank has intensified discussions with treasury traders regarding the banking system's liquidity, raising speculation about potential measures to enhance liquidity during the policy review on December 6. The focus of these talks has been on the impact of significant foreign outflows from stocks and bonds.
Japan's economy could have faced years of deflation starting in 2016 without the Bank of Japan's extensive monetary stimulus program, according to a study by the central bank. The research indicates that price growth would have dipped into negative territory until around 2022 without this unconventional policy.
India's sovereign bonds are facing their first monthly outflow since joining JPMorgan's bond index, with overseas investors cutting holdings of Fully Accessible Route bonds by 77.3 billion rupees ($910 million) as of November 28. This decline follows a narrowing yield differential with US Treasuries, which dropped to 2.39 percentage points, the smallest gap in over a year, amid rising US inflation speculation and elevated yields due to the Federal Reserve's stance on interest rates.
EUR/JPY and USD/JPY have declined due to rising inflation in Japan, which heightens the possibility of a Bank of Japan rate hike. Meanwhile, AUD/USD is recovering from its November low, with resistance levels noted at ¥161.49-¥162.45 for EUR/JPY and ¥151.95 for USD/JPY.
French inflation rose by 1.7% year-on-year in November, slightly below analysts' expectations of 1.8%. This increase, amid waning consumer confidence, remains well under the European Central Bank's 2% target, bolstering arguments for further interest rate cuts.
The next Economic Census is set to begin in April 2025, as announced by MoSPI Secretary Saurabh Garg. Starting in January, all surveys will include district-level estimates, and the Ministry plans to utilize remotely-sensed nightlight data to enhance assessments of economic activity. This census will provide detailed insights into the operational and structural variables of establishments across the country.
Turkey has entered a technical recession, with the economy contracting by 0.2% quarter-on-quarter in the third quarter. This marks the second consecutive decline, driven by high interest rates that have hindered industrial production and investment in the $1.3 trillion economy.
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