Interest rate cuts in emerging markets in Asia are beginning!
Economists predict that Thailand and the Philippines may both cut interest rates by 25 basis points in December. Thailand's economic growth lags behind its neighbors due to high household debt, high borrowing costs, and weak exports; while the Philippines has inflation below the central bank's target range and shows signs of slowing down.
South Korea's Unemployment Rate Falls to 2.1% in September
The central bank conducted a 642.4 billion yuan 7-day reverse repurchase operation today. Industry insiders believe that subsequent funds are expected to ease, and the excess reserve rate in October is expected to rise.
Today, the central bank implemented a large-scale reverse repurchase operation to hedge the large amount of MLF due, and there may be a trillion-dollar deficit in the following four quarters, which could impact the interbank market. The industry believes that the funding gap in October is not significant, and the excess reserve ratio may rise above the seasonal level, with expectations of subsequent funding relief.
Expectations for Chinese Commercial Banks' Deposit Rate Cuts Building, DBS Says -- Market Talk
South Korea's Seasonally Adjusted Unemployment Rate Inches Up in September
South Korean Shares Close Higher for Second Day on Wall Street Gains; HD Hyundai Heavy Adds 4% on New Ships Order