{"id":74485,"date":"2026-11-10T21:38:15","date_gmt":"2026-11-11T01:38:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asian-markets-mixed-as-pboc-shifts-policy-anchor-feds-goolsbee-warns-on-inflation\/74485\/"},"modified":"2026-11-10T21:38:15","modified_gmt":"2026-11-11T01:38:15","slug":"asian-markets-mixed-as-pboc-shifts-policy-anchor-feds-goolsbee-warns-on-inflation","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asian-markets-mixed-as-pboc-shifts-policy-anchor-feds-goolsbee-warns-on-inflation\/74485\/","title":{"rendered":"Asian Markets Mixed as PBOC Shifts Policy Anchor; Fed\u2019s Goolsbee Warns on Inflation"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>PBOC formalizes policy shift<\/strong>: China&#39;s central bank conducted <strong>187 billion yuan<\/strong> in overnight reverse repo operations at <strong>1.25%<\/strong>, solidifying the overnight rate as its primary policy anchor.<\/li>\n<li><strong>Fed official flags inflation risk<\/strong>: Chicago Fed President Austan Goolsbee described the October CPI report as <strong>&quot;borderline disturbing,&quot;<\/strong> signaling potential headwinds for future rate cuts.<\/li>\n<li><strong>Yuan hits multi-week low<\/strong>: The People&#39;s Bank of China (PBOC) weakened the yuan midpoint to <strong>6.7191 per dollar<\/strong>, its lowest setting since October 22.<\/li>\n<li><strong>Major South Korean traffic incident<\/strong>: A 17-vehicle pileup in Seongnam, triggered by a city bus, left <strong>nine people seriously injured<\/strong> and dozens more with minor injuries.<\/li>\n<li><strong>Apple services restored<\/strong>: Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) successfully resolved global disruptions affecting <strong>iCloud Mail, Photos, and Find My<\/strong> platforms after a multi-hour outage.<\/li>\n<\/ul>\n<h2>PBOC Transitions to New Monetary Framework<\/h2>\n<p>The People\u2019s Bank of China (PBOC) took a significant step in its transition toward a more price-based monetary policy on Wednesday. The central bank injected <strong>187 billion yuan<\/strong> ($25.8 billion) into the financial system through overnight reverse repo operations at a fixed rate of <strong>1.25%<\/strong>. This move follows the bank&#39;s recent decision to replace the seven-day reverse repo rate as its main policy anchor, aiming to improve the precision of interest rate regulation.<\/p>\n<p>In the currency markets, the PBOC set the yuan&#39;s daily reference rate at <strong>6.7191 per USD<\/strong>, marking the weakest fix for the currency in nearly three weeks. The weakening of the midpoint comes as the dollar remains resilient following comments from Federal Reserve officials regarding persistent inflationary pressures in the United States.<\/p>\n<h2>Fed\u2019s Goolsbee Expresses Concern Over CPI<\/h2>\n<p>Chicago Fed President Austan Goolsbee sparked market caution after characterizing the latest October Consumer Price Index (CPI) data as <strong>&quot;borderline disturbing.&quot;<\/strong> Speaking on the sidelines of recent economic discussions, Goolsbee noted that while the long-term trend of cooling inflation remains, the recent data suggests the path to the Fed&#39;s <strong>2% target<\/strong> may be more volatile than anticipated.<\/p>\n<p>The hawkish undertone from the Fed official contributed to a rise in bond yields across the Pacific. The <strong>2-year Japanese Government Bond (JGB) yield<\/strong> advanced <strong>7 basis points to 1.845%<\/strong>, reflecting growing expectations that global central banks may need to maintain higher rates for longer to combat sticky price increases.<\/p>\n<h2>Regional Market and Corporate Developments<\/h2>\n<p>In South Korea, equity markets managed to turn positive after a weak opening, despite ongoing concerns regarding domestic inflation. However, the morning was marred by a major transportation disaster in Seongnam, where a city bus reportedly suffered a brake malfunction, triggering a <strong>17-vehicle pileup<\/strong>. Local officials confirmed that <strong>nine individuals<\/strong> are in serious condition, with a total of <strong>48 people<\/strong> sustaining minor injuries.<\/p>\n<p>On the corporate front, Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) reported that all iCloud-related services have been fully restored. The disruption, which began late Tuesday, had prevented users from accessing <strong>iCloud Mail, Calendar, and Photos<\/strong> across several regions, including the U.S. and Japan. The company\u2019s status page now indicates that all systems are operating normally.<\/p>\n<p>In Southeast Asia, the <strong>Malaysian Ringgit<\/strong> faced downward pressure, dropping to <strong>4.066 per US dollar<\/strong>. This represents the currency&#39;s weakest level since November 4, as investors continue to favor the greenback amid the shifting global interest rate outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways PBOC formalizes policy shift: China&#39;s central bank conducted 187 billion yuan in overnight reverse repo operations at 1.25%, 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