United States:
Fed Looks Likely to Consider Faster Drawdown in Asset Purchases
“The Federal Reserve looks on course to consider a more rapid drawdown of its mammoth bondbuying program just weeks after it instituted a plan to scale the purchases back in a methodical manner. A trio of policy makers — Vice Chairman Richard Clarida, Governor Christopher Waller and St. Louis Federal Reserve Bank President James Bullard — signaled this week that the topic of a faster taper might be on the table when the Federal Open Market Committee meets Dec. 14-15.”
Europe:
Bank of England Officials Add to Questions on December Rate Rise
“The Bank of England’s top two officials raised questions about the certainty of an interest-rate increase in December, noting the decision would be finely balanced. Governor Andrew Bailey told the Sunday Times that risks to the U.K. economy are “two-sided” at the moment, with slowing growth and rising inflation. That echoed comments made Friday by Chief Economist Huw Pill.”
Asia:
South Korean Exports Extend Double-Digit Gains in Early Data
“South Korea’s exports are poised to extend a run of double-digit gains in November, underpinned by chip and ship sales and signaling global demand remains solid in the run up to the year-end holiday season. The value of Korea’s overseas shipments advanced 27.6% during the first 20 days of this month, the customs office reported Monday, following a 24% increase for the whole of October. Imports surged 41.9% during the period, led by a jump in the purchase costs of crude oil, gas and related products.”
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