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EMERGING MARKETS: Global News: January 09

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • US (BBG) – Federal Reserve Bank of Boston President Susan Collins said she favours fewer rate cuts in 2025 than she had anticipated just a few months ago, following strong employment data and lingering inflation. Collins, who emphasised the need for patience, said her outlook for interest rates was consistent with the median projection from officials released after the Fed’s December meeting. That pointed to two quarter-point reductions this year, down from four in September forecasts.
  • US (BBG) – President Joe Biden’s administration plans one additional round of restrictions on the export of AI chips from the likes of Nvidia just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.
  • CHINA (MNI) – China's CPI inflation slowed to 0.1% y/y in December, as expected, from 0.2%, reaching a nine-month low. However, core CPI inflation continued to rebound to 0.4% y/y, data from the NBS showed Thursday. The slowdown was mainly attributed to a 0.5% y/y decline in food inflation, partly offset by a 0.2% y/y rise in non-food prices.
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  • US (BBG) – Federal Reserve Bank of Boston President Susan Collins said she favours fewer rate cuts in 2025 than she had anticipated just a few months ago, following strong employment data and lingering inflation. Collins, who emphasised the need for patience, said her outlook for interest rates was consistent with the median projection from officials released after the Fed’s December meeting. That pointed to two quarter-point reductions this year, down from four in September forecasts.
  • US (BBG) – President Joe Biden’s administration plans one additional round of restrictions on the export of AI chips from the likes of Nvidia just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.
  • CHINA (MNI) – China's CPI inflation slowed to 0.1% y/y in December, as expected, from 0.2%, reaching a nine-month low. However, core CPI inflation continued to rebound to 0.4% y/y, data from the NBS showed Thursday. The slowdown was mainly attributed to a 0.5% y/y decline in food inflation, partly offset by a 0.2% y/y rise in non-food prices.