Bloomberg Daybreak: Asia Edition Daybreak Weekend: US CPI, ECB Meeting, RBA Decision
Dec 6, 2024
This weekend's discussion dives into the upcoming U.S. CPI data and its potential impact on the Federal Reserve's policies. The episode also evaluates Oracle's cloud strategies amid the AI boom. Across the pond, the European Central Bank faces challenges amid political instability, particularly following France's budgetary decisions. In Australia, surprising household spending trends signal possible interest rate cuts by the RBA. Meanwhile, Australia introduces a social media ban for minors, reshaping tech regulation and privacy concerns.
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Transcript
Episode notes
Upcoming Inflation Data
- US CPI data release on Wednesday could impact Fed policy.
- The PPI will be released one day later.
Inflation and Fed Policy
- Inflation is down but still above the Fed's 2% target.
- Edward Harrison expects the Fed to cut rates in December if CPI data aligns with expectations.
Drivers of Inflation
- Stubbornly high inflation is primarily driven by core services and housing.
- Food and energy are not the primary drivers of current inflation.