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The central bank of the People's Republic of China is responsible for formulating and implementing monetary policies, preventing and defusing financial risks and maintaining financial stability.
Peng Song | Moment | Getty Images
Asia-Pacific markets are set for a mixed open on Friday as investors look toward key economic events out of China and Japan.
The People's Bank of China is due to release its loan prime rate decision on Friday, with traders watching if the central bank will cut rates in a bid to boost the Chinese economy.
The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a benchmark for mortgage rates.
Currently, the one-year rate stands at 3.1%, while the five-year rate is at 3.6%.
Japan also released its November inflation numbers, a day after the Bank of Japan held rates at 0.25%.
The core inflation rate in the country — which strips out prices of fresh food — came in at 2.7%, slightly higher than the 2.6% expected from economists polled by Reuters
Headline inflation came in at 2.9%, higher than the 2.3% seen in October.
Japan's Nikkei 225 is set to rise, with the futures contract in Chicago at 39,085 and its counterpart in Osaka at 39,020 against the index's last close of 38,813.58.
In contrast, futures for Hong Kong's Hang Seng index stood at 19,730, pointing to a weaker open compared to the HSI's close of 19,752.51.
Australia's S&P/ASX 200 started the day down 0.77%, hitting its lowest level since September.
Overnight in the U.S., the Dow Jones Industrial Average narrowly snapped its longest losing streak since 1974 on Thursday.
The 30-stock Dow added 0.04%, but other major U.S. indexes fell, with the S&P 500 down 0.09% and the Nasdaq Composite falling 0.10%.
The 10-year Treasury yield also rose for a second day, topping 4.5% and pressuring stocks. The benchmark yield surged more than 13 points in the previous session.
— CNBC's Brian Evans and Pia Singh contributed to this report.
House Republicans say they’ve reached a deal to head off government shutdown
Key House Republicans said on Thursday afternoon that they reached a short-term government funding deal to prevent a government shutdown that would have started on Friday evening.
The accord comes after President-elect Donald Trump indicated he would not support a measure that doesn't include a debt ceiling increase.
"Our Country is far better off closing up for a period of time than it is agreeing to the things that the Democrats want to force upon us," Trump wrote on Truth Social.
Read the latest on the funding deal from CNBC's Christina Wilkie here.
—Darla Mercado
Wall Street’s fear gauge — the VIX — saw second-biggest spike ever on Wednesday
Wall Street's fear gauge — the VIX — spiked by the second biggest percentage in its history on Wednesday, after the Federal Reserve jolted the stock market by saying it would dial back its rate-cutting campaign.
The CBOE Volatility Index surged 74% to close at 27.62, up from around 15 earlier in the day. That surge is the second-greatest in history, behind a 115% leap to above the 37 handle back in February 2018 when there was a blow-up in funds tracking the volatility index.
Wednesday's move comes after the central bank said it will likely lower interest rates just twice next year, down from the four cuts it projected back in September, alarming investors who wanted low rates to keep fueling the bull market. The Dow Jones Industrial Average tumbled by 1,100 points to its 10th straight loss.
VIX
— Sarah Min
GDP grew at 3.1% pace in Q3, faster than prior estimate
A person shops for eggs at a Whole Foods Market grocery store on December 17, 2024 in New York City.
Spencer Platt | Getty Images
The U.S. economy grew at a faster pace in the third quarter than previously estimated, according to the third and final estimate Thursday from the Commerce Department.
Gross domestic product accelerated at a 3.1% seasonally adjusted annualized pace during the July-through-September period, 0.3 percentage point better than the previous estimate and above the 2.9% Dow Jones consensus estimate.
Consumer spending, which accounts for about two-thirds of all activity in the $29.4 trillion U.S. economy, rose 3.7% in the quarter, 0.2 percentage point faster than the prior estimate.
— Jeff Cox
English (US)