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A Reuters poll shows that 70% of economists expect the Bank of Japan to raise interest rates to at least 1.50% in the second quarter of 2027; 51% of respondents believe 1.50% is the terminal rate.A Reuters poll found that 79% of economists believe the yen is too weak at around 160 against the dollar relative to Japans economic fundamentals.July 23 - Recently, the East China Regional Headquarters project of Qujing Technology was officially launched in Qianjiang Century City, Xiaoshan District, Hangzhou. It is understood that Qujing Technology will focus on building the East China regional delivery and service center for its high-efficiency AI Token Production Service Platform (ATaaS) in Qianjiang Century City, striving to build a high-quality AI Token factory with a cluster scale of tens of thousands of tokens within five years.On July 23, the Shanghai Municipal Development and Reform Commission and other departments issued "Several Measures of Shanghai Municipality to Give Full Play to the Function of Direct Financing and Further Strengthen Science and Technology Financial Services," which proposes to improve the ecosystem for science and technology mergers and acquisitions. The measures include: continuously strengthening the transparency of review standards for listed companies acquiring science and technology companies; supporting both parties in negotiating and determining transaction prices based on diversified evaluation methods; leveraging the functions of third-party market-oriented service platforms to build a science and technology company merger and acquisition case database and valuation database; promoting the implementation of typical cases of simplified review procedures for science and technology companies; encouraging third-party mergers and acquisitions; providing services for connecting with national-level merger and acquisition funds; leveraging the role of Shanghais state-owned asset merger and acquisition fund matrix to attract and aggregate market-oriented merger and acquisition funds to conduct merger and acquisition transactions around the science and technology company industrial chain; and encouraging domestic insurance companies to conduct technical cooperation with overseas institutions to develop and launch localized merger and acquisition insurance products.On July 23, the Shanghai Municipal Development and Reform Commission and other departments issued "Several Measures of Shanghai Municipality to Give Full Play to the Function of Direct Financing and Further Strengthen Science and Technology Financial Services." Among the measures are: accelerating cooperation with the National Social Security Fund to establish a preferred project fund and creating a long-term mechanism for capital relay and collaborative empowerment; studying the establishment of a secondary fund of funds (S funds) to guide more secondary funds to gather in Shanghai and attract various entities such as insurance companies, asset investment companies (AICs), and asset management companies (AMCs) to invest in establishing secondary funds or participate in share trading; and exploring the inclusion of secondary funds in the scope of exemptions for nested structures.

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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