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On January 26th, the State Council Information Office held a press conference on the Ministry of Commerces work and operations in 2025. The conference introduced that in 2026, the Ministry of Commerce will further implement a special action to boost consumption, focusing on three aspects: policy formulation, event organization, and scenario optimization. First, policy formulation to increase benefits for consumers. This includes optimizing the implementation of the trade-in program for consumer goods to promote consumption of durable goods such as automobiles, home appliances, digital products, and smart devices. Pilot reforms of automobile circulation and consumption will be carried out to further unleash the potential of automobile consumption. The pilot program for prize-winning invoices will be implemented effectively; the list of pilot cities for prize-winning invoices was released last weekend. A series of practical and effective policy measures, such as promoting the first-launch economy, will be introduced. Second, events to create a strong consumption atmosphere. Focusing on three themes—goods consumption, service consumption, and consumption scenarios—more than 20 "Shopping in China" themed events will be organized this year, along with "city-specific" events in 15 pilot cities for internationalized consumption environments, and support for local "local station" events. Through a unified and distinctive event matrix, a strong consumption atmosphere will be created.On January 26, local time, Russian Presidential Press Secretary Dmitry Peskov stated that President Vladimir Putins current schedule does not include a phone call with US President Donald Trump, but this can be arranged quickly if needed. Peskov indicated that the territorial issue, a matter of principle for Russia, was among the consensus reached by the two leaders in Anchorage, and that corresponding consensus had been reached with the US and its president. Peskov stated that the Kremlin positively evaluated the commencement of constructive trilateral talks between Russia, the US, and Ukraine, but would not publicly discuss the specific terms of the agenda for the Ukraine negotiations. Furthermore, President Putin continues to receive direct briefings from Russian negotiators.On January 26, former European Commission President José Manuel Barroso stated that transatlantic relations are facing their lowest point since NATOs inception, with the United States destructive diplomatic practices forcing allies to re-evaluate the transatlantic relationship. Barroso said that transatlantic relations are increasingly driven by self-interest, gradually deviating from the traditional model based on shared "democratic values," describing the current moment as a "rupture phase." The Greenland dispute has shaken the confidence of European leaders and the public in the United States. Barroso stated that Trump is sometimes "tougher on allies and friends than on adversaries." In the defense arena, Barroso said that as the Trump administration continues to pressure the EU on defense spending, European leaders are also accelerating efforts to promote "European sovereignty." "If you want to preserve NATO, it will be a more European NATO," Barroso added, arguing that Europe should not rely solely on the United States but should prioritize strengthening its own defense capabilities.According to the German business daily Handelsblatt, three senior EU officials revealed that the European Commission will launch an investigation into the AI chatbot Grok on Monday under the Digital Services Act.The China Earthquake Networks Center officially measured a 3.1-magnitude earthquake at 16:07 on January 26 in Diebu County, Gannan Prefecture, Gansu Province (34.09 degrees north latitude, 103.24 degrees east longitude), with a focal depth of 10 kilometers.

AUD/JPY Exceeds 90.30 As RBA Considers Option To Raise Rates Prior To Pause

Daniel Rogers

Apr 18, 2023 14:02

AUD:JPY.png 

 

Following the release of the minutes from the Reserve Bank of Australia (RBA), the AUD/JPY pair surged above the 90.30-point critical resistance level. According to the RBA minutes, policymakers actively considered the decision to raise rates further. However, the decision to maintain the status quo was made after the collection of additional data.

 

Citing the resilience of Australia's financial system, RBA policymakers believed that the Board's future cash rate decisions would depend on the global economy, household spending trends, inflation projections, and employment forecasts.

 

Continue to monitor China's Gross Domestic Product (GDP) statistics. Compared to its stagnant performance in the final quarter of CY2022, the Chinese economy is estimated to have grown by 2.2%. Compared to the previous annual growth rate of 2.9%, the current annual growth rate for the economy is 4.0%. Australia is China's greatest trading partner, and stronger Chinese GDP data would strengthen the Australian Dollar.

 

The announcement of the People's Bank of China (PBOC) interest rate decision later this week will be crucial. Last week, the People's Bank of China pledged to provide additional monetary support to spur retail demand. Despite the reopening of China's economy following a period of economic restraint, the country's inflation rate has been consistently declining over the past few months.

 

According to Jiji news and Reuters, the Bank of Japan is reportedly considering a projection for consumer price growth between 1.6% and 1.9% for the 2025 fiscal year, a move seen as preventing market participants from betting on the central bank's departure from stimulus. This has also delayed the possibility of a shift away from an expansionary monetary policy, which cannot be considered until the Japanese inflation rate persists above 2%.


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