ECB's Lagarde: second-round effects absent, but waiting is not an option
Lagarde said the ECB sees no second-round effects yet but will act on early signs rather than wait for proof.
China's September CPI rose 0.9% from a year earlier, below the 1.0% expected, while PPI gained 5% y/y, above forecasts.
Producer prices were up 5% from a year earlier.
Consumer prices gained 0.2% from the prior month.
Compared with a year earlier, consumer prices were up 0.9%.
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Lagarde said the ECB sees no second-round effects yet but will act on early signs rather than wait for proof.
Goldman Sachs sees the RBA minutes as hawkish and says they lower the bar for a November hike; it still expects the cash rate to stay at 4.60%.
US Treasury yields above 5% are pressuring bitcoin, which pays no yield, while bond ETFs draw record inflows and Pimco’s CIO says rates could hit 6%.
ANZ believes the MAS may tighten again in 2027 if inflation risks materialise, viewing the recent hold as a pause in the tightening cycle.