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On March 24, the Chengdu Housing Provident Fund Management Center held a press conference to announce new policies. To further boost housing consumption, better meet the rigid and improved housing needs of contributors, and promote the stable and healthy development of the real estate market, Chengdu has issued a series of policy measures, including the "Notice on Further Optimizing Relevant Policies of Housing Provident Fund," the "Notice on Further Supporting Housing Consumption," the "Notice on Further Optimizing the Withdrawal of Housing Provident Fund for Serious Illnesses," and the "Notice on Adjusting Relevant Policies of Housing Provident Fund Loans." The maximum loan amount for a single contributor has been increased from 600,000 yuan to 800,000 yuan, and the maximum loan amount for two contributors has been increased from 1 million yuan to 1.2 million yuan.The Israeli military says search and rescue teams are heading to several locations in southern Israel where reports of impacts have been received.March 24th, Futures Market News: Zhengzhou rapeseed meal futures opened lower and then fluctuated throughout the day. Canadian canola futures closed lower, with the benchmark contract down 1.02%, following the downward trend in international crude oil futures. Rapeseed meal spot prices also weakened. On the one hand, domestic demand remained sluggish, and coastal inventories increased month-on-month, easing market concerns about supply. On the other hand, weakening cost support from soybean meal dragged down rapeseed meal prices. In the long term, expectations for ample domestic rapeseed meal supply remain strong.March 24th - Phillip Nova analysts stated that gold prices are likely to remain volatile in the short term. Geopolitical tensions typically drive safe-haven demand, but current high energy prices and a persistently strong dollar are limiting golds upward momentum. Until a clearer geopolitical trajectory emerges, gold is likely to be influenced by volatility driven by market headlines, with each diplomatic statement potentially triggering a significant reversal.New Zealand Prime Minister Lukeson: Good progress has been made in the past few years. Inflation and interest rates have fallen, and the economy has begun to grow again.

Focus shifts to UK Inflation as EUR/GBP nears a 16-month high of 0.8720

Daniel Rogers

Sep 09, 2022 17:37

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If the EUR/GBP pair is able to surpass Thursday's high of 0.8712, it will attempt to extend its two-day winning streak. The asset is finally seeking to recapture a 16-month high at 0.8720 as a result of the European Central Bank's (ECB) historic rate hike. After a brief break around 0.8600, the cross has been climbing gradually for the past two weeks on a larger scale.

 

Christine Lagarde, president of the European Central Bank, prioritized taming the hot inflation over growth prospects by announcing a significant 75-basis-point rate increase (bps). There will likely be more rises once the interest rate was raised to 1.25 percent. The central bank won't keep raising key interest rates in the future and will instead continue to emphasize data more.

 

Inflation forecasts have also been made public by the central bank, and they estimate that it will average 8.1% in 2022, 5.5% in 2023, and 2.3% in 2024. The European Central Bank (ECB) attributed the escalating pricing pressures to supply chain restrictions, increasing energy and food prices, and other factors.

 

Inflation in the United Kingdom is double digits, and long-term growth prospects are bleak. In an effort to boost consumer confidence, Liz Truss, the country's next prime minister, has proposed a cap on energy prices to shield homeowners from the approaching winter. The demand for energy rises throughout the winter due to an increase in the use of electric heaters and appliances.

 

According to the new cabinet's energy bill cap, the average home will pay no more than £2,500 in annual energy costs.

 

The UK inflation rate will continue to be a focus in the future. The Consumer Price Index (CPI) previously hit 10.1%. Since energy prices in August have remained hopeful, it is expected that the economic statistics will pick up speed.


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