Core Viewpoint - South Korea's central bank has decided to maintain its policy rate at 2.50% for the fourth consecutive meeting while simultaneously raising its growth and inflation forecasts [1] Group 1 - The central bank's decision to keep the policy rate unchanged indicates a cautious approach amid changing economic conditions [1] - The bank's revised growth and inflation forecasts suggest an optimistic outlook for the South Korean economy [1]

声明称，尽管通胀压力有所减弱，未来仍存在潜在上行风险，包括地区局势变化、需求回升快于供应恢 复，以及财政支出走向等因素。 有分析称，过去两年中，受新一轮巴以大规模冲突影响，以色列企业和家庭普遍反映借贷成本沉重。政 府内部也多次向央行施压，要求尽快降息以缓解民众偿付压力。 来源：央视新闻客户端 以色列央行当地时间24日宣布，将基准利率下调25个基点，从4.5%降至4.25%，这是该行近两年来首次 降息，上一次是2024年1月。 以色列央行在声明中表示，随着以色列与哈马斯达成停火协议，国内经济活动在今年第三季度出现明显 回升，通胀压力持续缓解。以色列10月年通胀率保持在2.5%，连续数月处于政府设定的1%至3%目标区 间内。 ...

Core Viewpoint - The People's Bank of China (PBOC) announced a fixed quantity, interest rate tender, multi-price bidding operation for 800 billion yuan reverse repos on November 17, aimed at maintaining ample liquidity in the banking system [1] Group 1: Reverse Repo Operations - The PBOC will conduct a reverse repo operation of 800 billion yuan with a term of 6 months (182 days) [1] - There are 3 trillion yuan of 6-month and 7 trillion yuan of 3-month reverse repos maturing this month, with the latter already renewed in equal amounts on the 5th [1] - The total amount of reverse repos for both terms is expected to increase by 500 billion yuan, which is 100 billion yuan higher than the previous month [1] Group 2: Market Impact - This operation will inject medium-term liquidity into the market for six consecutive months, helping to stabilize the funding environment and support government bond issuance [1] - Financial institutions are expected to increase monetary credit investments as a result of this liquidity injection [1] - The chief macro analyst from Dongfang Jincheng noted that the PBOC's actions are aimed at maintaining a stable and ample liquidity state [1] Group 3: Future Expectations - On November 25, 900 billion yuan of Medium-term Lending Facility (MLF) will mature, and the reverse repo net injection may help alleviate the pressure of MLF renewal [1][2] - The PBOC's monetary policy execution report emphasizes the need to maintain ample liquidity and create a suitable monetary financial environment [1]

Core Viewpoint - Moody's indicates that the Bank of Korea may delay its next interest rate cut to the first quarter of 2026 due to high household debt, rising housing prices, and resilient economic data [1][2]. Economic Indicators - Recent inflation rebound and better-than-expected GDP growth in the third quarter suggest that the Bank of Korea does not have an urgent need to further ease monetary policy [1]. - The unemployment rate in South Korea was 2.6% in October, showing stability in the labor market, while manufacturing employment has recently started to recover after four months of decline [1]. Monetary Policy Outlook - The last monetary policy meeting of the Bank of Korea for this year is scheduled for November 27, with market attention on whether another rate cut will occur [1]. - The current seven-day repurchase rate is maintained at 2.5%, with four rate cuts implemented since October 2024, but the easing was paused starting July 2025 [1]. Risks to Financial Stability - High levels of household debt and real estate prices remain significant risks to South Korea's financial stability, despite government measures to restrict housing credit [1]. - The policy stance remains cautious regarding further easing, as there is concern that it could exacerbate asset bubbles, particularly in the Greater Seoul area [1].

Group 1 - The People's Bank of China conducted a reverse repurchase operation of 117.5 billion yuan with a fixed interest rate of 1.40% for a 7-day term on November 4, 2025 [1] - The total bidding amount matched the amount awarded, indicating strong demand in the market [1]

Core Insights - The central bank has indicated that it has exhausted its monetary policy tools to support an economy affected by the ongoing trade dispute with the U.S. [1] Economic Impact - The economy is currently facing challenges due to the trade row, which has led to a need for intervention from the central bank [1]

Core Points - The central bank conducted a reverse repurchase operation on October 23, 2025, with a fixed rate and quantity tendering method, amounting to 212.5 billion yuan for a 7-day term [1] - The operation interest rate was set at 1.40%, with both the bidding and winning amounts being 212.5 billion yuan [1] - A total of 236 billion yuan in reverse repos is set to mature today [1]

Core Insights - The Reserve Bank of Australia (RBA) is observing signs of loosening financial conditions following three interest rate cuts this year, with credit becoming more accessible for households and businesses [1][2] - Recent economic data has shown stronger-than-expected results, with disinflationary trends stalling and consumer spending remaining robust, particularly in the housing market where prices have reached record highs [2] - The RBA Assistant Governor Christopher Kent expressed skepticism about the concept of a neutral interest rate, indicating that estimates vary widely and that current cash rates may not provide clear guidance on monetary policy [3] Financial Indicators - The RBA is monitoring various financial indicators, including banks' funding costs, household credit, and business debt, which are beginning to show responses to the recent rate cuts [4]

新华财经开罗10月3日电（记者张健）埃及央行10月2日发表声明说，埃及央行将基准利率下调100个基 点，调整后的隔夜贷款利率和隔夜存款利率分别为22%和21%。 埃及央行降息的理由是通胀压力有所缓解，经济增长强于预期。埃及央行将继续密切监测经济和金融形 势，引导通胀率在2026年第四季度达到7%（±2个百分点），在2028年第四季度达到5%（±2个百分 点）。 今年以来，埃及央行已实施了四次降息，总降息幅度为 6.25%（625个基点）。 （文章来源：新华财经） ...

Core Viewpoint - The Bank of Japan is committed to further interest-rate hikes as stated by Governor Kazuo Ueda, amidst increasing speculation regarding the timing of the central bank's next move [1] Group 1 - The Bank of Japan's commitment to interest-rate hikes indicates a proactive approach to monetary policy [1] - Governor Kazuo Ueda's remarks suggest that the central bank is closely monitoring economic conditions to determine the appropriate timing for future rate increases [1]