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EMERGING MARKETS: Global News: October 11

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • US - Federal Reserve Bank of Chicago President Austan Goolsbee said he doesn’t see convincing evidence that the economy is overheating despite the strong September jobs report. Speaking in an interview on Thursday, Goolsbee reiterated that inflation has cooled significantly and the labour market remains strong. He said that officials need to stay attuned to the risk that strong demand could reignite inflation.
  • ISRAEL - Israel has yet to decide how to retaliate against Iran for a missile attack last week, according to an Israeli official familiar with the matter. A security cabinet meeting on Thursday night ended without a decision on what the response should be, the official said. Meanwhile, Israel stepped up strikes on Beirut on Thursday after two days of relative calm in the Lebanese capital.
  • CHINA - Investors and analysts are expecting China to deploy as much as CNY 2tn ($283bn) in fresh fiscal stimulus as Beijing seeks to shore up the economy and boost confidence. That’s what they hope the country’s finance minister will announce at a highly anticipated briefing on Saturday. Most expect the funding to come in the form of government bonds. Beyond the amount of any fiscal package, the target of support will indicate where the government looks to steer its economy after years of debt-fuelled expansion through investment.
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  • US - Federal Reserve Bank of Chicago President Austan Goolsbee said he doesn’t see convincing evidence that the economy is overheating despite the strong September jobs report. Speaking in an interview on Thursday, Goolsbee reiterated that inflation has cooled significantly and the labour market remains strong. He said that officials need to stay attuned to the risk that strong demand could reignite inflation.
  • ISRAEL - Israel has yet to decide how to retaliate against Iran for a missile attack last week, according to an Israeli official familiar with the matter. A security cabinet meeting on Thursday night ended without a decision on what the response should be, the official said. Meanwhile, Israel stepped up strikes on Beirut on Thursday after two days of relative calm in the Lebanese capital.
  • CHINA - Investors and analysts are expecting China to deploy as much as CNY 2tn ($283bn) in fresh fiscal stimulus as Beijing seeks to shore up the economy and boost confidence. That’s what they hope the country’s finance minister will announce at a highly anticipated briefing on Saturday. Most expect the funding to come in the form of government bonds. Beyond the amount of any fiscal package, the target of support will indicate where the government looks to steer its economy after years of debt-fuelled expansion through investment.