Global - Change of mindset at central banks?
The Fed’s Rosengren suggests shifting the Fed’s inflation target.
China - Liberalizing the CNY
The PBoC’s resets counter-cyclical factor in the CNY fixing mechanism to zero signals return to liberalization of the exchange rate mechanism.
Korea - Improved labor market conditions in December
The BoK remains on course of tightening this year with our forecast of two 25bp policy rate hikes in the second and fourth quarters.
Philippines - Persistent wide trade deficit
November trade data is likely to reinforce vulnerability of the PHP to weakness in the external payments position.