EUR/USD
1.17357
0.166%
Gold
3860.85
0.119%
Oil
60.610
0.205%
USD/JPY
147.338
0.060%
GBP/USD
1.34484
0.076%
GBP/JPY
198.150
0.138%
Real-time News
On October 3rd, Bank of America economists stated in a report that the UKs approximately £20 billion fiscal gap could be addressed through small tax increases, such as a gambling tax and a freeze on the income tax threshold. However, if the fiscal gap exceeds £20 billion, it may be difficult to fill without raising other taxes such as income tax, national insurance contributions, and VAT, or through cuts in public spending. The economists stated, "We note that raising VAT would be inconsistent with the Chancellors goal of reducing inflation, while a wealth tax appears increasingly unlikely."The French-German 10-year yield spread erased its previous narrowing trend and is now 82 basis points.French Socialist Party leader Faure: Le Cornus budget proposal has shortcomings.French Socialist Party leader Faure: The tax plan proposed by Le Cornu is far from our previous suggestions.On October 3rd, New York Fed President John Williams, a permanent FOMC member, stated on Friday that unpredictable changes are inevitable, and central banks need to recognize this and develop strategies to address these circumstances. He stated that coping with uncertainty requires strong principles and strategies to address a range of unexpected events, while noting that new situations will continue to emerge. Williams also stated that previously unconventional strategies, such as bond purchases, are no longer novel but rather a normal part of the toolkit. Furthermore, Williams stated that stabilizing inflation expectations is crucial and cannot be taken for granted.
