China kept a key interest rate unchanged — a move widely expected by economists — as it seeks to keep its powder dry ahead of possible escalation in trade tensions with the US. The People’s Bank of China held the interest rate on the one-year medium-term lending facility steady at 2%, according to a statement…
Federal Reserve Bank of San Francisco President Mary Daly said she is “very comfortable” with policymakers’ median projection of two interest-rate cuts next year, emphasizing the central bank can turn to a slower approach. “My projection is that it will take many fewer rate cuts next year than we thought but I’ll watch the economy…
Amid Donald Trump’s chaotic, last-minute intervention into congressional negotiations about government funding, he has stumbled upon a good idea: He wants to abolish the debt ceiling. The debt ceiling, once a barely relevant bit of legal arcana, has become a dangerous weapon in American politics. It is currently due to expire in March, and the…
I’m Katia Dmitrieva, Asia economics correspondent in Hong Kong. Today we’re looking at how Chinese factories are preparing for a second trade war. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here. Manufacturers…
Chinese Premier Li Qiang urged government officials to swiftly carry out key economic tasks for the coming year, after top leaders signaled stronger stimulus for 2025. Li said ministries must be proactive and act “as early as possible” in executing plans set out at the central economic work conference, the official Xinhua News Agency reported,…
A key measure of CEO confidence in China signaled pessimism for the first time since the pandemic even after the nation unleashed a raft of stimulus measures. Sentiment among the country heads of mostly American and European companies dropped to 49, down from 56 in the previous six months, according to a survey by the…
Weeks before Donald Trump returns to the White House, China’s factories are expanding production abroad and growing their customer base outside the US as they gird for new levies from the self-proclaimed “tariff man.” A sports gear maker is completing a new plant in Vietnam, hoping to dodge any new trade measures directed at made-in-China…
To get John Authers’ newsletter delivered directly to your inbox, sign up here. One thing we’ve known about Donald Trump since he entered politics: He really likes tariffs. For him, trade is a zero-sum game, and the US should use tariffs to make sure it gets its fair share. Source link
South Korea’s currency and its stock market will take center stage on Monday, as investors respond to a weekend vote to impeach President Yoon Suk Yeol following his attempt to impose martial law. The Korean won will be the main focus for traders, after its heavy losses during the country’s recent political chaos. The currency…
China’s spiral into deflation is proving hard to fix. Prices in the world’s second-biggest economy have fallen for six consecutive quarters, and if they fall for one more quarter, the run would equal a record deflationary streak set in the Asian Financial Crisis in the late 1990s. Policymakers have pledged to do more to shore…