South Africa pauses its weekly repo auction. The South African Reserve Bank issued a notice on October 12 suspending the weekly repo auction, its main one-week liquidity operation conducted at the repo rate, and separately published Directive 5 of 2026 withdrawing previously issued specified directives for banks. The notices appeared in the SARB’s official publications feed; no reason was given in the feed metadata, and the full texts were not independently opened, so the operational significance is unclear.
RBI’s daily statement shows heavy absorption. The Reserve Bank of India’s money-market operations statement for October 10 showed banks parking Rs 1,39,360 crore in the standing deposit facility at 5.25%, with net liquidity absorbed from outstanding operations at Rs 3,76,435.90 crore. Scheduled commercial banks’ cash balances with the RBI stood at Rs 7,86,097.56 crore against an average daily cash-reserve requirement of Rs 8,17,219 crore for the fortnight ending October 15, while net durable liquidity was last reported as a surplus of Rs 13,93,819 crore as of September 15.
Gold rises as oil-driven hike bets fade. Gold edged higher Monday as lower oil prices pared market expectations for further interest-rate increases, Bloomberg reported, with traders also weighing a Russia-Ukraine energy ceasefire. The move fits the morning’s pattern: softer energy prices are doing the most to cool the global hiking repricing.
Copper gains on the same repricing, plus a supply shock. Copper rose on easing rate-hike expectations and an avalanche at a Chilean mine, Bloomberg reported Monday. The metal is doubly sensitive to the rates story, through both the dollar and the growth outlook.
Nuveen’s Cooper sees yield risks tilted up. In a Bloomberg interview Monday, Nuveen’s Cooper said risks to yields are tilted to the upside, adding a prominent asset-manager voice to the camp that sees 5%+ long-end yields as a floor rather than a peak.
BoJ December hike nearly fully priced. Money markets see about a 90% chance the Bank of Japan raises its policy rate by year end, Bloomberg Economics estimates, after Governor Kazuo Ueda’s hawkish turn following September’s hike to 1.25%. The open question is political: longtime easing supporter Sanae Takaichi’s tolerance for faster normalization is untested, and the yen’s weakness is keeping pressure on the bank.
China inflation and the week’s speaker slate. China’s September CPI and PPI land Wednesday, a read on whether deflationary pressure is still bleeding into the region’s rate outlooks. The rest of the calendar is crowded with central-bank voices: RBA minutes and Fed Governor Waller on Tuesday; ECB President Lagarde, the Fed’s Beige Book, Governor Bowman and Bank of Canada Governor Macklem on Wednesday; UK August GDP and BoE Governor Bailey on Thursday and Friday.