MNI China Daily Summary: Wednesday, November 20

MNI BRIEF: Chinese Aluminium Exporters To Renegotiate Prices

MNI BRIEF: BOJ October Real Export Index Falls 4.9% M/M

MNI: PBOC Net Injects CNY69.1 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1935 Weds; +0.09% Y/Y

CHINA PBOC CONDUCTS CNY302.1 BLN VIA 7-DAY REVERSE REPOS WEDS

MNI: US MBA: MARKET COMPOSITE +1.7% SA THRU NOV 15 WK

MNI: EUROZONE SEP CONSTRUCTION OUTPUT -0.1% M/M, -1.6% Y/Y

MNI: GERMANY OCT PRODUCER PRICES -1.1% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Makhlouf Comfortable With Just One Further Cut in 2024

ECB
  • Reuters have reported that ECB’ Makhlouf said he was comfortable with just one more interest rate cut this year as he needed more time to gain confidence inflation was headed to the ECB's target.
  • Makhlouf struck a cautious tone in an interview with Reuters, even though he expected rates to fall eventually.
  • "I am comfortable with expectations of another cut," he said on the sidelines of the ECB's Forum on Central Banking in Sintra, Portugal. "I think two cuts today, at the beginning of July, is probably going a little bit too far. I'm not saying I'd rule it out."
  • Makhlouf said he was "pleased" with the latest inflation data "because it confirms the direction that we are moving in" but he stressed services inflation remained the "number one issue of focus" after a second straight 4.1% increase.
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