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EMERGING MARKETS: Global News: January 13

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • ISRAEL (MNI) – Finance Minister Bezalel Smotrich has pushed back against earlier reports of a potential 'final draft' for a ceasefire between Israel and Hamas in Gaza. Smotrich, who leads the ultranationalist National Religious Party–Religious Zionism party, said that his party “will not be part of” such a deal, claiming that it would be a “catastrophe for Israel’s national security.” Reuters reports that Israeli officials have denied receipt of a draft ceasefire proposal after Smotrich's statement.
  • EU (MNI) – The ECB needs to ensure that interest rates “follow a middle path” of being “neither too aggressive nor too cautious”, ECB chief economist Philip Lane said. The ECB has to be attentive that rates don’t fall too quickly as “it will be difficult to bring services inflation under control” and also they don’t remain too high for too long.
  • CHINA (MNI Beijing) – The PBoC will reduce interest rates and the RRR to maintain ample liquidity and support financing of the economy, said Governor Pan Gongsheng on Monday in Hong Kong, according to a statement on the PBoC’s website. The focus of China's macroeconomic policy will shift from an emphasis on investment to a more balanced approach with consumption, he said.
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  • ISRAEL (MNI) – Finance Minister Bezalel Smotrich has pushed back against earlier reports of a potential 'final draft' for a ceasefire between Israel and Hamas in Gaza. Smotrich, who leads the ultranationalist National Religious Party–Religious Zionism party, said that his party “will not be part of” such a deal, claiming that it would be a “catastrophe for Israel’s national security.” Reuters reports that Israeli officials have denied receipt of a draft ceasefire proposal after Smotrich's statement.
  • EU (MNI) – The ECB needs to ensure that interest rates “follow a middle path” of being “neither too aggressive nor too cautious”, ECB chief economist Philip Lane said. The ECB has to be attentive that rates don’t fall too quickly as “it will be difficult to bring services inflation under control” and also they don’t remain too high for too long.
  • CHINA (MNI Beijing) – The PBoC will reduce interest rates and the RRR to maintain ample liquidity and support financing of the economy, said Governor Pan Gongsheng on Monday in Hong Kong, according to a statement on the PBoC’s website. The focus of China's macroeconomic policy will shift from an emphasis on investment to a more balanced approach with consumption, he said.