Weekly Market Recap (20-24 November) ...Middle East

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Monday   The PBoC left its LPR rates unchanged as expected: LPR 1-year 3.45%.LPR 5-year 4.20%.PBoCECB’s Wunsch (hawk – voter) gave a clear signal that the ECB is going to hold rates steady in the next two months, but warned that an easing in financial conditions due to rate cuts bets could prompt further rate hikes: Bets on rate cuts risk prompting rate hikes instead. Markets are optimistic to rule out further rate hikes. But rates should stay unchanged in December and January. ECB's WunschECB’s de Cos (dove – voter) pushed back against rate cuts bets: ECB is not expected return to forward guidance on monetary policy. It is absolutely premature to start talki

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