MARKET UPDATE

BOJ debates messaging on eventual rate hike as inflation perks up

Bank of Japan policymakers are debating how soon they can start telegraphing an eventual interest rate hike, which could come even before inflation hits the bank’s 2% target, sources say, emboldened by broadening price rises and a more hawkish Federal Reserve.

 

Dollar Lower as Longs Head for The Exit

The U.S. dollar weakened in early European trade Friday, heading for its worst week in more than a year as traders now consider Federal Reserve interest rates hikes this year as being fully priced in.

 

UK economy finally bigger than before pandemic in November

Britain’s economy grew strongly in November to finally surpass its size just before the country went into its first COVID-19 lockdown, official data showed on Friday.

The world’s fifth-biggest economy expanded by a much faster than expected 0.9% in November – before the latest wave of COVID-19 infections and restrictions for many firms leaving it 0.7% bigger than it was in February 2020, the ONS said.

 

Citi to sell Southeast Asia retail business to Singapore’s UOB for $3.7 billion

Citigroup has agreed to sell its consumer business in four Southeast Asian markets to United Overseas Bank for about S$5 billion ($3.7 billion), bringing the U.S. bank closer to its goal of exiting retail operations in 13 markets.

The proposed acquisition by Singapore’s UOB will be its biggest in two decades and double its retail customer base in the four markets in Southeast Asia, where the bank already has a substantial presence and competes with larger rivals including DBS Group  and OCBC.

 

S.Korea’s central bank delivers back-to-back rate hikes amid inflation worries

Banks in the euro zone increased the pace of lending to companies last month and continued to extend credit to households at a brisk pace, data showed on Friday, in a sign of confidence in the bloc’s recovery.

 

European Stock Futures Mostly Lower; UK November GDP Impresses

European stock markets are expected to open largely lower Friday with investors digesting a selloff on Wall Street, although the U.K. surprised with strong growth data.

 

 

 

 

 

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