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AirAsia Group co-founder Tony Fernandez: The company will make a “quite exciting announcement” with Airbus next month, covering growth and strategy.On September 18th, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan." Zhang Qiang, Director of the Urban Management Supervision Bureau of the Ministry of Housing and Urban-Rural Development, stated at the conference that high-quality urban renewal cannot be achieved without policy and mechanism guarantees. We will focus on establishing and improving four mechanisms: First, an integrated mechanism for urban health checks and urban renewal, focusing on the problems identified during the health checks. Second, an urban renewal planning and implementation mechanism, establishing an implementation system from special planning to area planning and project implementation. Third, a sustainable urban renewal investment and financing mechanism, increasing government investment while better leveraging market forces. Fourth, a mechanism for the organic integration of urban renewal and historical and cultural preservation, ensuring that historical culture and modern life complement each other. Simultaneously, we will accelerate the legislation on urban renewal and improve the standards system to solidify the institutional support for high-quality urban renewal.On September 18th, EFG International economist Sam Jochim stated in a commentary that with underlying inflation approaching 2%, the Bank of Japan (BOJ) is expected to raise interest rates approximately every three months. He believes the next rate adjustment will be a hike, and the tightening cycle will continue until interest rates reach what the BOJ considers a neutral level. He pointed out that the BOJ estimates the neutral level corresponds to a final policy rate of approximately 1.75% to 2.00%, a level that could be reached in 2027. However, the economist warned that any signs of slowing economic growth could hinder the pace of rate hikes.According to the latest data from the General Administration of Customs, in August 2026, China exported 6 million tons of steel plates, a year-on-year increase of 6.6%; cumulative exports from January to August reached 44.26 million tons, a year-on-year decrease of 7.9%. In August, China exported 1.93 million tons of steel bars, a year-on-year increase of 18.1%; cumulative exports from January to August reached 13.86 million tons, a year-on-year increase of 13.1%.On September 18th, it was learned from the National Bureau of Data Science that the China-ASEAN Data Cooperation Professional Committee of the World Data Organization (WDC) was established on September 17th in Nanning, Guangxi. The WDC, headquartered in Beijing, is the worlds first professional international organization dedicated to promoting data development and governance practices. Its newly established China-ASEAN Data Cooperation Professional Committee focuses on cross-border data flows, inclusive intelligent computing power, joint development of rules and standards, member ecosystem building, and industrial cluster development within ASEAN, aiming to bridge the data gap, unlock the value of data, and promote the prosperity of the digital economy. The National Bureau of Data Science stated that it will actively participate in global data governance and support the WDC in fully leveraging the professional advantages of its members in global regions and industries to pragmatically promote international data cooperation in specific sectors.

The EUR/GBP exchange rate recovers above 0.8000 in advance of Eurozone inflation and UK gross domestic product

Alina Haynes

Mar 30, 2023 16:05

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The EUR/GBP pair extended its recovery above 0.88 during the Asian trading session. Anticipating that the European Central Bank (ECB) will continue to raise interest rates to combat persistent inflation, the cross has depreciated progressively. Friday will see the publication of preliminary Eurozone Harmonized Index of Consumer Prices (HICP) and Gross Domestic Product (GDP) (Q4) figures. Prior to the publication of these figures, it is anticipated that the asset will exhibit explosive activity.

 

It is anticipated that the preliminary Eurozone HICP will decelerate significantly from 8.5% to 7.3%. While it is anticipated that the core HICP will rise to 5.7% from 5.6% in the previous release. Weak energy prices are anticipated to have a significant impact on Eurozone inflation. In light of Christine Lagarde's prediction that inflation will remain elevated for an extended period of time, the European Central Bank (ECB) is expected to continue tightening monetary policy.

 

In the interim, banking tensions are subsiding as the absence of information regarding additional collateral damage has a positive impact on the market. Chief Economist Philip Lane stated on Wednesday that ECB interest rates must rise if banking tension has no or a "relatively limited" impact.

 

Investors avidly anticipate the United Kingdom's Gross Domestic Product (GDP) data. According to the consensus, the United Kingdom's growth in the fourth quarter of CY2022 remained unchanged. It is anticipated that the annual GDP will remain unchanged at 0.4%. It is expected that the British economy will undergo a severe recession as a result of high inflation and sluggish growth.

 

The Bank of England (BoE) policymakers appear confident that inflation will moderate in the near future and that the unexpected rise in February's inflation was a one-time anomaly; however, the absence of evidence raises doubts. If inflation persists, BoE Governor Andrew Bailey stated that additional rate increases would be announced. In contrast, Bank of America (BoA) analysts anticipate that the Bank of England (BoE) will not increase rates and will maintain current levels until 2024.


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