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EMERGING MARKETS: Global news: September 23

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • ISRAEL (MNI) – The Israeli Defence Forces (IDF) have confirmed a new wave of airstrikes against Hezbollah targets in southern Lebanon. This follows a weekend of Israeli airstrikes and Hezbollah rocket launches into northern Israel. The IDF has publicly warned Lebanese citizens to move away from buildings or civilian homes linked to Hezbollah, claiming that these buildings will be targets for airstrikes. The US has sought to dissuade Israel from raising the frequency of strikes to the point where an all-out war could break out with Hezbollah.
  • US – The battle between Kamala Harris and Donald Trump over the economy is set to intensify, with the rival presidential candidates planning duelling addresses this week on one of the campaign’s defining issues. Harris told reporters Sunday she will deliver a speech “to outline my vision for the economy.” Trump, meanwhile, is set to offer remarks Tuesday in swing-state Georgia on a plan to lower taxes for US business owners.
  • CHINA (MNI Beijing) – The PBoC cut the 14-day reverse repo rate by 10bp to 1.85% on Monday, the first reduction since January 2023, following the 7-day reverse repo rate cut in July, according to a statement on its website. The Bank said the interest rate for the 14-day reverse repo was 15bp higher than that of the 7-day reverse repo in open market operations. It was the first time the Bank restarted its 14-day reverse repo since Feb 9 in a bid to “maintain sufficient liquidity in the banking system at the end of the quarter”.
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  • ISRAEL (MNI) – The Israeli Defence Forces (IDF) have confirmed a new wave of airstrikes against Hezbollah targets in southern Lebanon. This follows a weekend of Israeli airstrikes and Hezbollah rocket launches into northern Israel. The IDF has publicly warned Lebanese citizens to move away from buildings or civilian homes linked to Hezbollah, claiming that these buildings will be targets for airstrikes. The US has sought to dissuade Israel from raising the frequency of strikes to the point where an all-out war could break out with Hezbollah.
  • US – The battle between Kamala Harris and Donald Trump over the economy is set to intensify, with the rival presidential candidates planning duelling addresses this week on one of the campaign’s defining issues. Harris told reporters Sunday she will deliver a speech “to outline my vision for the economy.” Trump, meanwhile, is set to offer remarks Tuesday in swing-state Georgia on a plan to lower taxes for US business owners.
  • CHINA (MNI Beijing) – The PBoC cut the 14-day reverse repo rate by 10bp to 1.85% on Monday, the first reduction since January 2023, following the 7-day reverse repo rate cut in July, according to a statement on its website. The Bank said the interest rate for the 14-day reverse repo was 15bp higher than that of the 7-day reverse repo in open market operations. It was the first time the Bank restarted its 14-day reverse repo since Feb 9 in a bid to “maintain sufficient liquidity in the banking system at the end of the quarter”.