- Following the last US jobs report, recession fears faded. Therefore, most Wall Street banks like Citi, JP Morgan, and Bank of America revised its November Fed call from a 50 to 25 bps rate cut.
- Minneapolis Fed President Neel Kashkari said he doesn’t see signs of “resurgent inflation" and is confident that inflation is returning to 2%.
- Meanwhile, the People’s Bank of China (PBoC) halted its Bullion purchases for the fifth month. China’s reserves were unchanged, as their holdings stood at 72.8 million troy ounces at the end of last month.
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