EUR/USD
1.16926
0.084%
Gold
4796.28
-0.743%
Oil
60.650
0.058%
USD/JPY
158.676
0.238%
GBP/USD
1.34332
0.013%
GBP/JPY
213.157
0.278%
Real-time News
January 22 – As Japan prepares for next months snap election, Munehito Kamiya, leader of a newly emerging minority party, stated that the Bank of Japans (BOJ) interest rate hikes may be too rapid and could harm the economy. He said the partys priority is to revitalize the economy through tax cuts, particularly the consumption tax, and loose fiscal policy. Kamiya said the BOJ should proceed cautiously with interest rate hikes given the still fragile economy. "I think the pace of interest rate hikes is a bit too fast," Kamiya said, warning that raising borrowing costs too early could harm the economy and small businesses. "Im not against the BOJs policy direction; the problem is the speed." Kamiya stated, "The division of power between the government and the central bank is quite important. On the other hand, in Japan, fiscal and monetary policies havent reached the level of cooperation they should." "Overemphasizing the BOJs independence could have a negative impact on the economy," he added.The yield on Japans 30-year government bonds fell 10 basis points to 3.62%.The yield on Japans 20-year government bonds fell 7.0 basis points to 3.185%.January 22 - Soaring freight rates have prompted some shipowners to use new tankers to transport Russian oil. This trade is typically carried out by older vessels nearing or exceeding their service life. By the end of 2025, the US and EU will blacklist hundreds of tankers involved in the Russian oil trade, leading to supply shortages and a surge in freight rates. Reputational risks and the threat of sanctions have deterred some shipowners, but at least two Greek companies find the enormous profits from transporting Russian crude too tempting. Transporting Russian oil is not entirely illegal, but if the transport price exceeds the so-called "price cap," it means that Western suppliers (such as dominant players in the insurance industry) will be unable to support the trade. Fears of exceeding the price cap often hinder legitimate operators, while a "dark fleet" fills this gap. Now, sanctions have caused Russian oil prices to plummet, providing a buffer against the price cap and giving Greek companies the confidence to participate in the oil trade, profiting from it using three tankers less than a year old.Shares of Tokyo Electric Power Company (TEPCO) continued to fall, currently down 3.0%. The company stated that an alarm sounded during control rod removal operations at Unit 6 of the Kashiwazaki-Kariwa Nuclear Power Plant, which was restarted on the 21st, and the removal operation was halted.
