Japan CPI inflation, China lending prime rate, currencies

Japan CPI inflation, China lending prime rate, currencies

Hong Kong casino, tech stocks boost broader index

Australia’s central bank says case for slower rate hikes strengthens

Board members of the Reserve Bank of Australia (RBA) “saw the case for a slower pace of interest rate increases grow stronger,” according to the minutes of their September 6 meeting, where it raised its interest rate at 50 basis points. at 2.25%.

“The Board expects to raise interest rates further in the coming months, but is not on a pre-set path given the uncertainties surrounding the outlook for inflation and growth,” it said in minutes released Tuesday.

He added that medium-term inflation expectations remained “well anchored.”

Future interest rate hikes will be guided by the data and outlook for inflation and labor markets, the RBA said.

— Abigail from

CNBC Pro: Goldman says demand for copper is poised to pick up. These are the actions you hope to benefit

A copper shortfall could be on the horizon, with demand set to rise in the push towards net zero, and some metal stocks could shine in this scenario, according to Goldman Sachs.

CNBC Pro subscribers can read more here.

— Weizhen Tan

China keeps key lending rates unchanged

The People’s Bank of China left its one-year and five-year lending prime rates (LPR) unchanged, in line with predictions in a Reuters poll.

The prime rate on one-year loans remains at 3.65%, and the five-year rate, closely linked to home mortgages, stands at 4.3%. China cut both rates last month.

— Abigail from

CNBC Pro: Fund Manager Says Bear Market Will Get ‘Nasty’

Fund manager Cole Smead believes the stock market is still in the early innings of a bear market, warning it won’t be a “garden variety.”

But, he’s not losing sleep over it. This is why:

Professional subscribers can read more here.

—Zavier Ong

Japan’s core inflation accelerates in August

Core consumer prices in Japan rose 2.8% in August from a year earlier, government data showed.

That’s the fastest growth in nearly eight years, and the fifth month in a row that inflation has exceeded the central bank’s target of 2%.

Analysts polled by Reuters predicted a 2.7% increase and consumer prices rose 2.4% in July.

The Japanese yen strengthened slightly to 142.96 per dollar.

— Abigail from

Stocks close volatile Monday session higher

Stocks wobbled on Monday but ended the session in positive territory as a big week for the Federal Reserve kicked off.

The Dow Jones Industrial Average closed 197.26 points higher, or 0.64%, to settle at 31,019.68. The S&P 500 jumped 0.69% to 3,899.89 and the Nasdaq Composite gained 0.76% to 11,535.02.

—Samantha Subin

10-year Treasury yield jumps above 3.5%, hits highest level since 2011

The benchmark 10-year Treasury yield rose to 3.5% on Monday morning, hitting its highest level since 2011, as investors brace for a period of higher interest rates amid the fight for the Federal Reserve against inflation.

Treasury yields rose above the board last week after the consumer price index report for August showed a surprise rise in prices. However, the 10-year bond largely held close to its June highs of 3.495% before rising again on Monday.

The 10-year note last traded at a yield of 3.506%, up nearly 6 basis points. Yields move in the opposite direction to price, and one basis point equals 0.01%.

—Jesse Libra

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