Wrap Europe

Spain November Final CPI M/M 0.2% vs 0.2% preliminary (0.7% prior) | Final CPI Y/Y 3.0% vs 3.0% preliminary (3.1% prior) | Final HICP M/M 0.0% vs 0.0% preliminary (0.5% prior) | Final HICP Y/Y 3.2% vs 3.1% preliminary (3.2% prior)

Fed cuts rates, but mortgage rates creep to 6.22%! Housing affordability concerns rise as Powell warns of market challenges.

BP's Atlantis expansion adds 15K boe/d early, boosting Gulf of Mexico output & 2030 goals. Traders eye offshore production returns.

France November Final CPI M/M -0.2% vs -0.1% preliminary (0.1% prior) | Final CPI Y/Y 0.9% vs 0.9% preliminary (0.9% prior) | Final HICP M/M -0.2% vs -0.2% preliminary (0.1% prior) | Final HICP Y/Y 0.8% vs 0.8% preliminary (0.8% prior)

Europe's EV sales surge 33% on incentives; US sales drop post-subsidy. China's EV growth stalls at 3%, then dips 17%!

BoJ will not release updated estimate on neutral rate, won't use it as main communication tool on rate hike timing - Reuters sources

BoJ likely to maintain pledge next week to keep raising rates with pace dependent on how the economy reacts to each increase - Reuters sources