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10 Things You Need To Know This Morning

Mamta Badkar   

10 Things You Need To Know This Morning

Good morning. Here's what you need to know.

  • The Chinese central bank held a press conference in which Governor Zhou Xiaochuan struck a more hawkish tone than before. He said inflation should be watched closely and that monetary policy should be determined by inflation rather than asset classes like real estate. Bank of America's Ting Lu writes that this "might be a consequence of being criticized by the public for carrying out overly loose monetary policy since late 2008." The seven megatrends that will dominate China's next decade >
  • After failing to elect a new Pope Tuesday, 115 Cardinals are reconvening for the Papal election today. Reuters reports that in recent times there has never been a decision on the first day and the first vote just helps shortlist the top candidates. For now, Italy's Angelo Scola and Brazil's Odilo Scherer remain the favorites.
  • The U.S. Department of Agriculture (USDA) might purchase 400,000 tons of sugar to avoid default by sugar processors, according to the WSJ. This is meant to support sugar prices that have tumbled ever since the USDA offered loans to sugar processors in October.

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