RBA Rate Call, Fed Faces Crunch, Singapore’s CPI Focus: Eco Day

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

• An unexpected spike in Australia’s underlying inflation jolted the bond market. Bloomberg Economics is sticking to its call that the inflation surprise isn’t going to shift the RBA’s views on policy
• Fed officials meet this week as consumers and companies fret the economy is facing its biggest supply crunch since the 1973 oil crisis
  • Bloomberg Economics is changing its call on the timing of the Fed’s rate liftoff to the third quarter of 2022
• Singapore’s top central banker said the monetary authority is watching for signs of accelerating inflation and is ready to act
• Bank of England policy makers are heading into their meeting this week knowing that failure to deliver a once-unthinkable rate hike would raise serious questions over their credibility with markets
• Treasury Secretary Janet Yellen dismissed concerns in the bond market about policy makers squelching economic growth
• Prime Minister Fumio Kishida’s election win smooths the path for a stimulus that signals whether he’s a spender or a budget balancer
• South Korea’s inflation accelerated above 3% for the first time in almost a decade in October, lifted by rising commodity prices
• Persistent supply chain challenges continued to weigh on U.S. manufacturers in October, lengthening supplier delivery times
• The unsustainable level of house prices poses monetary and financial stability challenges for New Zealand, RBNZ Governor Adrian Orr says
• The U.K labor market may be “alarmingly tight” and could stoke wage pressures
• Indian Prime Minister Narendra Modi surprised delegates at the COP26 summit with a bold pledge to reach net-zero by 2070

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