Hungarian Minister of Economy: Hungary’s economic situation in 2023 has proven that Hungary can remain stable even without EU funds.

European Central Bank executive member Schnabel refused to support guidance on keeping interest rates stable in the next few quarters and said policy guidance for the next six months must be treated with caution.

Hungarian Economy Minister: We respect the independence of the central bank, but we can have policy debates.

European Central Bank Executive Member Schnabel: Ending the reinvestment of the Emergency Epidemic Purchase Program (PEPP) is not a big problem because the scale is small; discussions around this issue will begin soon.

ECB Executive Member Schnabel: The inflation situation is on the right track, but more progress needs to be made on core inflation issues.

European Central Bank Executive Member Schnabel: We need to proceed with caution after inflation exceeds expectations and do not declare victory prematurely.

ECB Executive Member Schnabel: The current restrictive level of interest rates is sufficient, increasing confidence in achieving the 2% inflation target in 2025.

European Central Bank executive member Schnabel: The central bank must be more cautious than market pricing in cutting interest rates.

Schnabel, executive member of the European Central Bank: The inflation situation is encouraging, and the core CPI has dropped significantly.

The Turkish Central Bank increased its total reserves by US$3.5 billion last week, bringing the total size to more than US$140 billion, a record high.

The draft negotiation document of the COP28 summit shows that COP28 considers phasing out coal power without emission reduction treatment within this decade.

The draft COP28 summit negotiation document shows that COP28 is considering phasing out fossil fuels, and two additional options are under consideration.

Market news: A British trade delegation will go to India this week for free trade agreement negotiations.

Australian government bonds continued their gains, with the 3-year government bond yield falling 2 basis points.

US Geological Survey: A magnitude 5.4 earthquake occurred 37 kilometers east of Alas-Asan in the Philippines.

Market news: The United States reviewed allegations by short seller Hindenburg before providing loans to Adani.

The MSCI Asia Pacific Index fell 1%.

Sources: The Japanese government plans to issue 1.6 trillion yen in climate transition bonds in February next year, with maturities of 5 and 10 years.