December 2022 – Page 14 – UAG Trade Asia

Bank of Korea Stresses Highly Uncertain Inflation Path

December 20, 2022
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SEOUL, Dec 20 Reuters South Korea39;s central bank said on Tuesday the country39;s consumer inflation would remain around 5 for some time and then gradually ease, but cautioned that domestic and global factors are raising uncertainty about how fast prices will slow. Going forward, uncertainty is high with regard to the oil prices, foreign exchange […]

December 20, 2022
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SHANGHAI, Dec 20 Reuters China kept benchmark lending interest rates unchanged for the fourth consecutive month on Tuesday, matching the forecasts of most market watchers who nevertheless expect further monetary easing to prop up a slowing economy. The oneyear loan prime rate LPR was left at 3.65, while the fiveyear LPR was held at 4.30. […]

December 20, 2022
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SYDNEY, Dec 20 Reuters The postpandemic slump in Australian housing is set to deepen next year as hundreds of billions of dollars of mortgage debt fixed at record low rates in 2020 and 2021 mature, forcing borrowers to refinance at punishingly high interest rates. Repayments on an estimated A370 billion 245.79 billion of home loans […]

December 20, 2022
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BEIJING, Dec 20 Reuters The World Bank has cut its China growth outlook for this year and next, citing the impact of the abrupt loosening of strict COVID19 containment measures and persistent property sector weakness. The Washingtonbased lender, in a report released on Tuesday, said it expected China39;s economy to grow 2.7 in 2022, before […]

December 20, 2022
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Nov export orders 23.4 yy vs 11.2 poll forecast Export orders from China 37.3 yy vs 26.7 in Oct Ministry sees Dec orders between 27.8 and 30.8 yy Outlook clouded by China39;s COVID19 surge TAIPEI, Dec 20 Reuters Taiwan39;s export orders contracted at the worst rate in more than a decade in November, hit by […]

December 20, 2022
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BERLIN, Dec 20 Reuters Germany39;s producer price index eased in November for the second month in a row, adding to signs that high inflation could be waning in Europe39;s largest economy as the cost of natural gas and electricity fell, according to data released on Tuesday. Producer prices of industrial products rose 28.2 on the […]

December 20, 2022
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Cabinet approves tax deduction on goods purchases Agrees cuts to property tax and fees, jet fuel tax Finmin expects tax measures to boost GDP by 0.76 BANGKOK, Dec 20 Reuters Thailand39;s cabinet on Tuesday approved tax measures to help boost public consumption to support the economy as it recovers, the finance minister said. The tax […]

December 20, 2022
Finance
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The copper market may switch to two years of surpluses from two years of deficits — a meaningful glut if there’s a developed market recession.

December 20, 2022
Oil
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SINGAPORE, Dec 20 Reuters Oil prices inched higher on Tuesday, supported by a softer dollar and a U.S. plan to restock petroleum reserves, but gains were capped by uncertainty over the impact of rising COVID19 cases in top oil importer China. Brent crude futures were up 15 cents, or 0.2, at 79.95 a barrel at […]

December 20, 2022
Politics
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Dec 20 Reuters The Bank of Japan has slightly loosened the shackles on its 10year yield target and said it will review the operation of its yieldcurve control policy, surprising financial markets and sending the yen sharply higher. Here are some comments from experts TAKESHI MINAMI, CHIEF ECONOMIST AT NORINCHUKIN RESEARCH INSTITUTE, TOKYO It came as a […]

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Bank of Korea Stresses Highly Uncertain Inflation Path

China Holds Benchmark Lending Rates for 4th Consecutive Month

Australian Economy on Edge as FixedRate Mortgage Pain Looms in 2023

World Bank Cuts China Growth Outlook on COVID, Property Woes

Taiwan Nov Export Orders Plunge, Chinas COVID Surge Clouds Outlook

German Producer Prices Rise Less than Expected in November

Thailand Approves Tax Breaks to Boost Public Consumption

Near-term glut vs. medium-term optimism: Copper in five charts

Oil Prices Edge Higher; China COVID Surge Limits Gains

Bank of Japan Makes Surprise Policy Tweak

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