China orders massive equity buying

China continued its lockdowns that appeared to hurt its economy as the rest of the world said goodbye to COVID. The nation’s real estate market and stock market suffered as a result. Currently, the government has directed state banks to buy equities to stop excessive selling.

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BoC raises interest rates to 4.25%

The Bank of Canada (BoC) increased its key rate by 50 basis points, from 3.75% to 4.25%, in its final meeting of 2022. This rate hike brought borrowing prices to their highest level since 2008, up 4% since March. Policymakers affirmed that they would keep their tightening policy in the near future.

RBI lifts interest rate by 35 bps

The Reserve Bank of India (RBI) raised its key interest rate by 35 basis points, from 5.9% to 6.25%. This was the fifth rate hike in a row, and it was widely anticipated. As a result of continuous rate hikes, inflation slowed to 6.7% in October, down from a high of 7.4% in September.

RBA lifts interest rates by 25 bps

The Reserve Bank of Australia raised the interest rate by 25 bps to 3.1%, in line with market expectations. This was the eighth rate hike in a row, bringing borrowing costs to a level not seen since late 2012. The board has said that there will be more rate hikes in the future because inflation in Australia is still high.

Korean inflation continues to slide

Inflation in Korea slowed down from 5.7% to 5%, slightly below the forecasted 5.1%. The inflation rate fell from a 24-year high of 6.3% hit in July. Now the Bank of Korea may consider slowing or pausing its tightening policy.

Notable layoffs begin πŸ’₯

US employers announced 76,835 job cuts in November, the most since January 2021 and up from 33,835 in October. The tech sector announced 52,771 layoffs, the highest monthly number since industry data began being collected in 2000. Other industries experiencing big job losses included consumer goods, health care, construction, and transportation.

EU inflation eases to 10%

The annual inflation rate in the Euro Area decreased back to 10% from a record high of 10.6% in October. The result exceeded market expectations by 10.4%, finally declining after several increases.

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WTI oil rises after touching 1-year low

WTI crude oil jumped by 4% to $75.5, bouncing back from a one-year low of $71.8 from yesterday. Optimism about the Chinese economy reopening drives the commodity higher after it has been trending downward for several months.

BoC raises interest rates to 4.25%

The Bank of Canada (BoC) increased its key rate by 50 basis points, from 3.75% to 4.25%, in its final meeting of 2022. This rate hike brought borrowing prices to their highest level since 2008, up 4% since March. Policymakers affirmed that they would keep their tightening policy in the near future.

Tether created new stablecoin

Tether (USDT) as the largest stablecoin provider is expanding on Tron network by adding a Chinese Yuan. Bitfinex plans to be the first to offer Chinese Yuan stablecoin (CNHT) on its crypto exchange.

EU economy rises 0.3% in Q3

The economy of the Eurozone grew by 0.3% in the Q3 2022, which was a bit more than the initial estimate of 0.2%. This is 0.5% less than in the previous quarter as the economy grew by 0.8% in Q2.

WTI crude oil drops further

WTI crude oil fell almost 2% to $73, the lowest level reached since December 2021. Worries about weak global demand keep the bearish momentum going. The US and Europe, in particular, are seeing a drop in manufacturing activity because of tighter financial conditions.

RBI lifts interest rate by 35 bps

The Reserve Bank of India (RBI) raised its key interest rate by 35 basis points, from 5.9% to 6.25%. This was the fifth rate hike in a row, and it was widely anticipated. As a result of continuous rate hikes, inflation slowed to 6.7% in October, down from a high of 7.4% in September.

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