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[Quick Facts]

1. Fed minutes: All members agree to proceed cautiously in rate hikes.

2. National Association of Realtors: U.S. used home sales hit a 13-year low.

3. The BOC is expected to keep rates steady as Canada's inflation cools.

4. Lagarde: ECB can't declare victory over inflation yet and still needs to work hard.

5. RBA's Governor: Inflation remains a crucial challenge, with another rate hike possible.

[News Details]

Fed minutes: All members agree to proceed cautiously in rate hikes

The Federal Reserve's meeting minutes show that Fed officials agreed to proceed cautiously in interest rate hikes, and any tightening of monetary policy would be based on the progress of anti-inflation. Policy decisions at every meeting will continue to be based on the totality of incoming information. Participants expected data arriving in coming months to help clarify the extent to which inflation is continuing to come down, whether demand is also coming down in the face of tighter financial and credit conditions, and the improvement in the balance between supply and demand in the labor market.

National Association of Realtors: U.S. used home sales hit a 13-year low

Sales of used homes fell 4.1% in October compared to September, the slowest sales pace since August 2010, according to data released by the National Association of Realtors (NAR) in the United States. Home prices rose in all regions of the country. The annual price gains have increased for four consecutive months.

The BOC is expected to keep rates steady as Canada's inflation cools

According to data released by Statistics Canada, Canada's CPI rose 3.1% year-over-year in October, following a 3.8% rise in September. Inflation cooled mainly due to lower gasoline prices, while the biggest drivers of the rise remained mortgage interest costs, groceries, and rents.

Lagarde: ECB can't declare victory over inflation yet and still needs to work hard

The European Central Bank (ECB) can't declare victory over inflation just yet and will have to remain "attentive" until it's firmly headed back to the 2% goal, said ECB President Christine Lagarde on Tuesday. She noted that while the energy and supply chain shocks that had pushed up prices were now easing, the labor market was still adjusting and wages were still rising. "But there is still a journey ahead of us," Lagarde warned. "Our monetary policy is in a phase where we need to be attentive to the different forces affecting inflation – but always firmly focused on our mandate of price stability." "Given the scale of our policy adjustment, we can now allow some time for them to unfold," Lagarde said.

RBA's Governor: Inflation remains a crucial challenge, with another rate hike possible

The Reserve Bank of Australia (RBA) Governor Michele Bullock noted at a seminar in Melbourne that inflation is driven mainly by supply factors such as gasoline prices, rents, and energy, but there are also demand-side factors. The central bank is trying to control these factors.

As Bullock was speaking, the RBA released the minutes of its November meeting. The minutes showed that RBA policymakers ended the pause seen at four meetings to ensure that inflation remains on track to return to its 2% -3% target level amid accelerating economic growth and a stronger labor market.

[Focus of the Day]

UTC+8 16:35 RBA Governor Bullock Speaks

UTC+8 17:00  ECB Financial Stability Review

UTC+8 21:30 U.S. Weekly Initial Jobless Claims (SA)

UTC+8 21:30 U.S. Durable Goods Order MoM (Oct)

UTC+8 23:00 Eurozone Consumer Confidence Index Prelim (Nov)

UTC+8 23:30 U.S. EIA Weekly Crude Stocks

UTC+8 00:30 Next Day: Bank of Canada Governor Macklem Speaks