Bank of England raises rates for first time since 2023, says more may come
By David Milliken, Andy Bruce and Suban Abdulla
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Indonesia's GDP grows 5.5% in Q3, helped by government spending
On the map → Indonesia · nickel
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US stocks post best day since August after Democrats sweep midterms
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UK inflation to peak at 4.4% in 2027, according to FT survey of economists
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BOJ debated need for more rate hikes, scope for faster moves, September minutes show
AnalysisinvestingLiveNov 4 at 3:58 PM PST
BoJ minutes: board backed further hikes, flagged 50% oil surge as government urged caution
The minutes add a hawkish edge to the yen outlook, with talk of a faster pace and getting closer to neutral “relatively soon” supporting pricing for a December move. Against that, one member’s view that market expectations are running ahead of the economy may cap how far rate pricing extends, particularly at the longer end of the JGB curve. Oil is now an explicit driver of BoJ thinking, so renewed crude strength from the Middle East is likely to feed directly into Japanese rate expectations. The Cabinet Office’s call for caution is a reminder that political resistance to rapid tightening remains a factor. - The BoJ board in September was arguing over how fast to go, not whether to keep going, with oil doing much of the persuading. Summary: Members agreed the BoJ should keep raising rates as underlying inflation approached 2% and financial conditions stayed accommodative Several saw a shi
More: The Business Times
KOSPI tumbles as Democrat sweep fuels AI infrastructure concerns
On the map → South Korea · industrial routes
Euro area: Core inflation risks rising – Commerzbank
United States
U.S. Trade Deficit Narrows Slightly to $105 Billion in September
U.S. Private Payrolls Rise 86,000 in October, Topping Forecasts
Crude oil prices fall below $90 a barrel as Vance blames GOP election defeat on Iran war
AnalysisEconbrowserNov 4 at 9:15 PM PST
A List of Cost of Living Reduction Measures
It would be hard to reduce the relevant price level and financing costs, but one could drop the price below the current policy trajectory (based upon this post). Ignoring political feasibility, it’s still useful to know what economic theory and empirics would say works. Reduce tariffs. Reopen the Strait of Hormuz, Strait of Bab al […]
PodcastThe Business Times markets and economyOct 30 at 2:46 AM PDT
AI spending, oil and rate hikes: What is really steering markets
Prediction markets:
KalshiWill the 7-day moving average of transit calls through the Strait of Hormuz as reported by the IMF PortWatch be above 60 before December 1, 2027?
Hormuz traffic normal before Dec 1, 2027: 50% · Closes · Quote captured
PolymarketStrait of Hormuz traffic returns to normal by December 31
11% · Closes · Quote captured
Separate development
Oil Pushes Lower on Hopes to End US-Iran War
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Bitcoin rebounds past $80,000 as markets shrug off midterms and Binance hack
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S&P Global Japan Services PMI
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Dot-Com Lessons for the AI Bubble
Financing the AI boom – In Conversation with Imène Rahmouni-Rousseau
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Australia trade surplus nearly triples forecasts as gold imports dive in September
More: investingLive, Anadolu Agency
Brazil Holds Rates Steady After Election Blurred Policy Outlook
More: Banco Central do Brasilopen, Agencia Brasilopen
More News
CNBC · Nov 5 at 2:40 AM PST
Bloomberg · Nov 4 at 9:00 PM PST
The Wall Street Journal · Nov 4 at 3:06 PM PST
Reuters · Nov 4 at 7:45 AM PST
Reuters · Nov 5 at 3:30 AM PST
Earlier
Data Center Dynamics · Nov 4 at 6:00 AM PST
CNBC · Nov 4 at 5:23 AM PST
U.S. Bureau of Economic Analysis · Nov 4 at 5:30 AM PST
Bloomberg · Nov 4 at 5:16 AM PST
