November 7, 2025
United States:
Fed’s Williams Says Bank Reserves Close to Key ‘Ample’ Level
Federal Reserve Bank of New York President John Williams said recent volatility in overnight funding markets is a sign the US central bank is close to reaching its desired level of bank reserves.
“Based on recent sustained repo market pressures and other growing signs of reserves moving from abundant to ample, I expect that it will not be long before we reach ample reserves,” Williams said Friday in remarks prepared for a conference in Frankfurt.
Europe:
UK House Prices Hit a Record Ahead of Budget, Halifax Says
UK house prices reached a fresh record high in October, according to one of the country’s largest mortgage lenders, a sign of a resilient market despite mounting speculation over property taxes ahead of the Labour government’s autumn budget.
The average price of properties rose 0.6% to £299,862 ($393,280) after a 0.3% fall in September, Halifax said on Friday.
Asia:
Chinese Exports Unexpectedly Slump for First Time Since February
China’s exports unexpectedly contracted in October as global demand failed to offset the deepening slump in shipments to the US, dealing a blow to an economy already slowing amid sluggish consumer spending and investment at home.
Exports fell for the first time in eight months, dropping 1.1% from a year earlier, according to official data released Friday. Shipments to all nations except the US rose 3.1%, not enough to compensate for the more than 25% decline to America.
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