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J&T Express (01519.HK) rebounded in the afternoon, narrowing its losses to 5.01%; the company responded to the investigation: J&T Express China attaches great importance to this matter, sincerely accepts it, and will resolutely obey and fully cooperate with the relevant authorities in carrying out various investigations in accordance with laws and regulations.On June 11th, J&T Express responded to the State Post Bureaus investigation into the company, stating that J&T Express China attaches great importance to the matter, sincerely accepts, and will resolutely comply with and fully cooperate with the relevant authorities in carrying out all investigations in accordance with laws and regulations. J&T emphasized that safe production is a red line that the company cannot cross. J&T China has deeply reflected on its practices in light of important instructions regarding safe production, and deeply feels that as the brand headquarters, it has fallen short in fulfilling its unified management responsibility for safety assurance for some companies operating under the "J&T Express" trademark, trade name, and waybills. The lessons learned are profound. J&T China sincerely accepts supervision.The yield on Japans 5-year government bonds fell 1.5 basis points to 1.920%.The yield on Japans 40-year government bonds rose 3.0 basis points to 3.765%.June 11th - Analysts at BMO Capital Markets stated that some members of the European Central Banks (ECB) Governing Council may be thinking, "Weve waited long enough. Lets act!" And they will indeed act, meaning they will raise interest rates on June 11th. Since the outbreak of the Iran-Iraq war, several other central banks, such as the Reserve Bank of Australia and the Norwegian central bank, have tightened monetary policy. But the ECB will be the first G7 central bank to do so. The ECB previously stated that the Eurozones inflation rate and monetary policy were "in good shape," but now the situation is quite different. Concerns about the duration of the Iran-Iraq war and the sustainability of a potential peace agreement, and how these factors will affect inflation expectations and wage demand, are prompting the ECB to shift towards a tighter policy. Eurozone inflation has not eased since the last meeting. Adding to the woes, the risk of economic stagnation is increasing. The ECB must proceed cautiously, but the risk of further rate hikes remains, potentially as early as July.

The AUD/JPY Recovers from the Day's Low of 91.30, as the BOJ's Policy is Examined

Daniel Rogers

Apr 28, 2022 10:04

The AUD/JPY pair has drawn offers near 91.60 in the early Tokyo session, as investors await the Bank of Japan's (BOJ) monetary policy decision on Thursday. Since Wednesday, the pair has been swinging within a narrow range of 91.02-91.98 due to market participants' concern regarding the release of the BOJ's interest rate decision.

 

According to market expectations, the BOJ will maintain the status quo by maintaining current interest rates. Japan's inflation rate, at 1.2 percent, is the highest since October 2018 but remains much lower than the aim of 2%. Additionally, Japan's growth rate has not yet returned to pre-pandemic levels, implying that a rate hike decision is ruled out. Thus, an ultra-loose monetary policy will continue to be critical, and additional stimulus packages may be offered.

 

Meanwhile, the odds of the Reserve Bank of Australia (RBA) hiking rates have increased, mostly as a result of the Australian Bureau of Statistics reporting annual Australian inflation at 5.1 percent. Consumer Price Index (CPI) reading came in significantly higher than the forecasted 4.6 percent. Additionally, the quarterly CPI came in at 2.1 percent, exceeding expectations of 1.7 percent. The RBA stated at its most recent monetary policy meeting that they are not seeing any meaningful price pressure that would require them to announce a rate hike, and have adopted a data-dependent strategy for additional guidance. Now, the tide may be turning in May in favor of aggressive monetary policy.

AUD/JPY

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