Asia Pacific data

The People’s Bank of China lowered its reserve requirement ratio by 25 bps, freeing roughly CNY500 bln of liquidity. The Bank of Korea raised its base rate by 25 bps to 3.25% on Wednesday evening, as expected. Governor Rhee said that the terminal rate could reach 3.50%.

  • In economic data:
    • Japan’s November Tokyo CPI 3.8% yr/yr (last 3.5%) and Tokyo Core CPI 3.6% yr/yr (expected 3.5%; last 3.4%)
    • New Zealand’s Q3 Retail Sales 0.4% qtr/qtr (expected 0.5%; last -2.3%)
    • Singapore’s October Industrial Production 0.9% m/m (expected -0.3%; last 0.2%); -0.8% yr/yr (expected -0.9%; last 1.6%)


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China has serious inflation. The PBoC is being controlled by the dictator. Always the same thing make me look good to the people and always the same results making wrong moves with any dictator.