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On March 5th, at the first "Ministerial Corridor" press conference of the Fourth Session of the 14th National Peoples Congress, Minister of Industry and Information Technology Li Lecheng stated that in 2026, the Ministry of Industry and Information Technology will, in accordance with the requirements of the Government Work Report, vigorously promote the two-way development of artificial intelligence (AI) and manufacturing. my country boasts a complete range of industries, a large pool of innovative talent, and a continuously improving innovation ecosystem. We are confident and firmly believe that more world-class intelligent products will be produced on this fertile land. We will strive to promote AI computers, AI mobile phones, and smart homes to better meet the peoples needs for a better life. We will fully promote the research and development and iterative updates of next-generation artificial intelligence products, including brain-computer interfaces, autonomous vehicles, and robots, driving technological breakthroughs and iterations. We will vigorously support the development of intelligent agricultural machinery and intelligent medical devices, enabling more intelligent products to meet the needs of various industries and fields.March 5th - At the first "Ministerial Corridor" press conference of the Fourth Session of the 14th National Peoples Congress on March 5th, Zhang Yuzhuo, Director of the State-owned Assets Supervision and Administration Commission of the State Council, stated that during the "14th Five-Year Plan" period, the total assets of central enterprises successively reached 70 trillion, 80 trillion, and 90 trillion yuan. Profit levels over these five years increased by 56.2% compared to the previous five years, and overall labor productivity grew at an average annual rate of 7%.According to the Wall Street Journal, Canadian Prime Minister Mark Carney stated that the possibility of Canadian military involvement in the escalating conflict in the Middle East cannot be ruled out. "We have not participated in those US-Israeli operations. But we will always protect Canadians."March 5th - Li Lecheng, Minister of Industry and Information Technology: Regarding the next stage of artificial intelligence development, we will continue to do relevant work in 2026. Here, I would like to emphasize that in the development of the artificial intelligence industry, we must coordinate development and security, adhere to the principle that artificial intelligence is for human use, for human service, and for human control, and uphold international cooperation, openness, and sharing in artificial intelligence. We must unite with friends from all over the world to jointly explore and reach a broader consensus on the governance framework and rules for artificial intelligence, so that artificial intelligence can better benefit mankind and become a global public good.According to Iraqi Kurdish media Rudaw, an explosion occurred near Baghdad airport, which houses the "Victoria Base" and was previously used to house US troops.

As the BoJ ponders a YCC expansion, EUR/JPY continues to decline, falling below 142.60

Alina Haynes

Apr 06, 2023 11:52

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After plunging below 142.60 during the Asian trading session, the EUR/JPY pair's three-day losing trend was extended. Renewed rumors of an expansion of the Bank of Japan's (BoJ) Yield Curve Control (YCC) are exerting immense pressure on the cross.

 

The Japanese economy is experiencing gradual wage growth, and inflation is expected to respond to recent increases in crude oil prices. Analysts at Wells Fargo believe the BoJ will take advantage of a tactical opportunity to further modify its policy settings in the fourth quarter of 2022, and are inclined toward a meeting in October. They added that this timeframe is optimal for a smooth policy adjustment, as monetary easing from the Federal Reserve (Fed) and other major central banks should alleviate yield pressure.

 

In particular, the Bank of Japan (BoJ) will raise the target yield for 10-year Japanese government bonds (JGBs) from 0% to 0.25% and increase the tolerance interval surrounding this target to +/- 75 basis points.

 

Accelerating PMIs in the Eurozone provide support for the European Central Bank's sustained rate hikes. (ECB). S&P Global reported a Composite PMI of 53.7 on Wednesday, which was higher than the previous release of 52.0 but below expectations of 54.1, the highest level in the past ten months.

 

According to Reuters, S&P Global issued the following statement: "Manufacturing production increased slightly, but the service sector had the greatest impact on March's accelerated growth."

 

Wednesday, ECB policymaker Boris Vuji stated regarding interest rate forecasts, "The majority of the rate-hiking cycle has passed." He added, "We may require additional rate increases to address core inflation."

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