JP Morgan forecasts a PBOC RRR and rate cut after Lunar New Year

• And more fiscal support announcements in March

PBOC may cut RRR before the Lunar New Year holiday

• First day of the holiday is January 29

Nomura are expecting a March Fed rate cut then a US inflationary shock due to tariffs

• Nomura Federal Open Market Committee (FOMC) outlook

Economic calendar in Asia Monday, January 20, 2025 - PBOC Loan Prime Rate (LPR) day

• Asian Economic Calendar: Key Events and Consensus Expectations for 20 January 2025

Newsquawk Week Ahead: BoJ, PBoC, PMIs, UK jobs, Inflation data from Canada, Japan and NZ

• Next week focus lies on central bank rate decisions from the BoJ, PBoC, Norges Bank and CBRT, while data highlights include UK employment, PMI data and inflation metrics from Canada, Japan and New Zealand.

Has the crypto market first felt the risk appetite?

Atlanta Fed GDPNow growth estimate for Q4 unchanged at 3.0%

Bank of Canada releases what they learned from the actions of the pandemic

• They set guidelines for future issues

ECB's Nagel calls for a more cautious approach to rate cuts

• Remarks by ECB hawk, Joachim Nagel

The Flight of XRP and the Crypto Market Uptick

Fed's Hammack: We can be very patient in considering future rate cuts

• Remarks by Cleveland Fed president, Beth Hammack, to the Wall Street Journal

ECB's Stournaras: Rate cuts should still continue in the coming meetings

• Remarks by ECB policymaker, Yannis Stournaras

TD sees no more Federal Open Market Committee (FOMC) rate cuts until H2 2025

• Federal Reserve forecast

The crypto market has chosen the downward path

Bank of America says US 10 year yield is unlikely to rise above 5.25%!

• Someone needs a cup of tea

Goldman Sachs expects a Bank of Japan interest rate hike next week

• Goldman Sachs Asset Management

European Central Bank speakers Friday include Escriva and Cipollone

• Cipollone speaking at a crypto event

The crypto market has laid low

• BTCUSD has been trading near the lower end of the trading range for the last three months.

Japan fin min Kato says its up to the BoJ to decide monetary policy

• Japan finance minister Kato

PBOC sets USD/ CNY reference rate for today at 7.1889 (vs. estimate at 7.3275)

• PBOC CNY reference rate setting for the trading session ahead.

PBOC is expected to set the USD/CNY reference rate at 7.3275 – Reuters estimate

• PBOC CNY reference rate setting for the trading session ahead.

The crypto market has taken a hiatus from the sell-off

• Where does the actual bottom lie for BTC?

TD remains bullish on the USD

• DXY to retest highs

Wells Fargo revises Fed rate cut forecast amid labor market resilience

• Sees only 2 FOMC rate cuts in 2025, from three previously

Fed's Goolsbee: Has grown less concerned about labor market slowdown

• WSJ reports