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EMERGING MARKETS: Global news: September 13

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • US - Former Federal Reserve Bank of New York President William Dudley said there’s scope for a half-point rate cut at the central bank’s meeting next week. “I think there’s a strong case for 50,” Dudley said on Friday at a forum organised by The Bretton Woods Committee in Singapore. “I know what I’d be pushing for.”
  • ECB - The ECB must continue to lower borrowing costs, though the pacing of such moves will be dependent on incoming data, according to Governing Council member Gediminas Simkus. Inflation is “calming down” and “its trajectory suggests that further rate cuts must happen,” he told Radio LRT on Friday. “Rates will continue declining, but the speed of cuts will depend on data.”
  • CHINA - Chinese President Xi Jinping called on government officials at all levels to achieve the country’s annual growth target of around 5%, but couched it in less forceful terms than usual. The subtle change sparked speculation over Beijing’s resolve to pursue a goal that many economists see as increasingly out of reach. Officials need to “strive to achieve the full-year economic and social development goals,” Xi told a meeting he chaired in Lanzhou.
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  • US - Former Federal Reserve Bank of New York President William Dudley said there’s scope for a half-point rate cut at the central bank’s meeting next week. “I think there’s a strong case for 50,” Dudley said on Friday at a forum organised by The Bretton Woods Committee in Singapore. “I know what I’d be pushing for.”
  • ECB - The ECB must continue to lower borrowing costs, though the pacing of such moves will be dependent on incoming data, according to Governing Council member Gediminas Simkus. Inflation is “calming down” and “its trajectory suggests that further rate cuts must happen,” he told Radio LRT on Friday. “Rates will continue declining, but the speed of cuts will depend on data.”
  • CHINA - Chinese President Xi Jinping called on government officials at all levels to achieve the country’s annual growth target of around 5%, but couched it in less forceful terms than usual. The subtle change sparked speculation over Beijing’s resolve to pursue a goal that many economists see as increasingly out of reach. Officials need to “strive to achieve the full-year economic and social development goals,” Xi told a meeting he chaired in Lanzhou.