Fed Doubles Taper, China’s Growth Floor, Singapore Property Curbs: Eco Day

(Bloomberg) -- Welcome to Thursday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• Fed officials intensified their battle against the hottest inflation in a generation by shifting to end their asset-buying program earlier and signaling they favor raising interest rates in 2022 at a faster pace
  • Bloomberg Economics says FOMC participants have sent a loud and clear message to markets
  • Jerome Powell rejected the idea he held off on a hawkish policy tilt until he was nominated for a second term
  • Investors are parking more money at a major Fed facility
• China is likely to set a floor for economic growth of 5% next year as it tries to balance a desire to rein in the real-estate sector with the need for stability in a year of crucial political change
  • China’s economy took a knock from an ongoing property market slump and sporadic Covid outbreaks
• Central banks in Indonesia and the Philippines will likely keep their interest rates at record lows Thursday, even as they keep one eye on potential volatility in the wake of the Fed’s hawkish shift
• Singapore has introduced a new round of property curbs for its private and public residential markets
• The Bank of England could lay the ground for an aggressive rate rise in February if virus uncertainty keeps policy on hold on Thursday
• U.S. retail sales rose by less than forecast in November, suggesting that consumers are tempering purchases
• Canadian inflation held at the highest level in nearly two decades in November, maintaining pressure on the Bank of Canada

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