U.S. Fed officials are divided on December rate decision, with markets leaning toward a pause despite a 60% chance of a cut.

U.S. Federal Reserve officials remain split ahead of the December rate decision, with some pushing for a cut while others urge caution, reflecting deep divisions. Markets see a 60% chance of a cut, but many expect a pause. The Reserve Bank of Australia is expected to hold rates steady at 3.60% due to persistent inflation and strong housing demand, with no cuts likely before mid-2026. Australia’s Q3 PPI rose 3.5%, reinforcing the hawkish stance. China’s manufacturing PMI fell to 49.0, signaling contraction, while South Korea’s exports rose on strong chip and ship demand. Global markets await key data, including U.S. ISM reports and central bank decisions in Sweden, Norway, and the UK.