Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Vietnam Central Bank Faces Challenges Meeting 2026 Economic Growth Target Amid Global Uncertainty 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
The Fed met expectations by not raising rates and setting off a global market rally. Tomorrow the Bank of Japan has its turns at additional monetary stimulus. The ECB already signaled intentions in December for more stimulus and China's PBoC just finished its sixth stimulus for the year with plenty of room for more. The thought is that perpetual monetary stimulus is good for economic growth, corporate earnings, and jobs.
"We are not entirely sure about that since extraordinary monetary stimulus is still needed nearly seven years into this bull market but we are sure that it raises asset prices and that is good for this bull market", says Voya Global.
Meanwhile, the first estimated Q3 GDP report was released and it was below expectations at 1.5 percent but highlighted a very strong consumer (PCE) growth of 3.2 percent, with a big increase in disposable income from falling energy prices of 4.8 percent.
