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On February 12th, the Beijing Municipal Administration for Market Regulation organized an administrative meeting with 12 mainstream platforms involved in online train ticket sales, including Ctrip, Qunar, Fliggy, Tongcheng, Meituan, JD.com, TravelSky, High-Speed Rail Butler, Didi, Gaode Map, Baidu Map, and Tencent Map, focusing on prominent issues raised by the public regarding online train ticket sales. At the meeting, the Beijing Municipal Administration for Market Regulation clearly outlined four compliance requirements for each platform. These include: a comprehensive review of their business models and service processes; prohibiting explicit or implicit suggestions to consumers that they can obtain priority ticket purchase privileges through paid services; promptly rectifying misleading advertising such as "acceleration packages," "dual channels," and "remaining ticket monitoring" after tickets are sold out; and accepting public supervision. The meeting also requires a comprehensive review and rectification of platform pages, removal of products suspected of misleading advertising, adjustment of page promotional content, and a prohibition on using 12306 images, text, trademarks, etc., in advertising that could mislead consumers into believing that the platform has a specific business partnership with 12306.The Peoples Bank of China (PBOC) conducted 166.5 billion yuan of 7-day reverse repurchase operations today, with both the bid and winning bids amounting to 166.5 billion yuan. The winning bid rate was 1.40%, unchanged from the previous rate. The PBOC also conducted 400 billion yuan of 14-day reverse repurchase operations today.A chart summarizing the overnight price movements of international spot platinum and palladium.As of 8:33 AM Beijing time, spot platinum fell 1.32%, and spot palladium fell 1.07%.The yield on Japans 40-year government bonds fell 8.0 basis points to 3.645%.

0.8450 is being reached by EUR/GBP as the prospect of a UK recession looms

Daniel Rogers

Aug 05, 2022 14:46

 截屏2022-08-05 上午9.48.51.png

 

Following a huge upward rise from 0.8360 on Thursday, the EUR/GBP pair has subsequently turned sideways around 0.8430 in the Tokyo session. After the Bank of England (BOE) hiked interest rates by 50 basis points, the cross displayed a significant upward rise (bps) (bps). The BOE lifted interest rates by 50 basis points in succession, bringing them to 1.75 percent.

 

The investing community is aware that UK household earnings have been unsteady during the preceding few months. In addition, the economy's inflation rate is fast expanding. The inflation rate was 9.4 percent prior. The recent statement by BOE Governor Andrew Bailey that price increases might exceed 13 percent has sent shockwaves across the market.

 

The runaway inflation is now escalating, leaving the BOE with very little flexibility to tighten its monetary policy. The BOE is in poor shape as a result of the dismal economic data and the continuing political upheaval following the departure of UK Prime Minister Boris Johnson. A recession in the UK economy is extremely probable in the case that the inflation rate is close to 13 percent.

 

German manufacturing order numbers for the Eurozone have decreased by 0.4 percent against an anticipated 0.8 percent decline and a prior monthly contraction of 0.2 percent. Falling orders from factories indicate sluggish demand in Germany as a whole. It is vital to remember that Germany is a key element of the European Union (EU), and that economic data from Germany has a huge effect on people who favor the common currency.


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