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On September 6th, it was announced that the Ministry of Finance will soon issue 300 billion yuan in special treasury bonds to support eight central financial enterprises in replenishing their core tier-one capital. On the same day, the Industrial and Commercial Bank of China, Agricultural Bank of China, Export-Import Bank of China, China Export & Credit Insurance Corporation, PICC, China Life Insurance Company, China Taiping Insurance, and China Reinsurance Corporation announced their respective capital increase plans. Industry insiders stated that the Ministry of Finances capital increase for these eight central financial enterprises is a forward-looking arrangement, a proactive measure to support the high-quality development of central financial enterprises and contribute to the steady and sustainable development of the macroeconomy.On September 6, Iranian Armed Forces Chief of Staff Abdollah Abdullah stated that Iran will not surrender to the United States, and that the USs efforts to pressure Iran through "soft power warfare," cognitive warfare, and economic warfare have failed to force Iran to change its stance. Abdullah claimed that the US misjudged Irans potential surrender before taking military action, but this assumption "will not come true." He stated that the US is currently attempting to compensate for its strategic failures in the military field through "soft power warfare," cognitive warfare, and economic pressure, but these measures are also unsuccessful. Abdullah also stated that Iran "has demonstrated a new model of resistance to the world."Lebanese President: Despite the attacks, we remain firmly committed to upholding Lebanons sovereignty and stability in the south.Lebanese President: The attack on the Ministry of Finance building shows a persistent pattern of attacks, reflecting an intent to strike state institutions.Lebanese President: Israels attacks went beyond the scope of the ceasefire agreement and the framework agreement for national institutions.

The AUD/JPY exchange rate fluctuates below 90.00 as investors await BoJ action

Alina Haynes

Jan 18, 2023 15:03

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In the early Asian session, the AUD/JPY currency pair is bouncing violently in a narrow range below the resistance level of 90.00. Before the Bank of Japan introduces its first monetary policy of CY2023, the risk barometer indicates a sideways auction (BoJ). The AUD/JPY exchange rate reflects the consolidation of the AUD/USD, indicating an uncertain risk profile.

 

Investors anticipate that the Bank of Japan (BoJ) will not alter its policy stance on Friday, as doing so would increase financial market risk and hinder efforts to boost inflation. Previously, the Bank of Japan (BoJ) announced that the central bank will review the negative side effects of the decade-long ultra-loose monetary policy, generating the impression that the central bank is eager to abandon the easy policy.

 

The experts at Standard Charted expect the Bank of Japan to hold both the policy balance rate and the 10-year yield goal at their present levels of -0.1% and 0%, respectively. The recent decision to expand the 10-year JGB band to +/-50 bps (from +/-25 bps) will be evaluated by policymakers at the December meeting.

 

The replacement of current Governor of the Bank of Japan Haruhiko Kuroda will be widely followed. The next BoJ governor nominee is anticipated to be presented to the Japanese parliament on February 10, Reuters reported on Tuesday. Amamiya, Nakaso, and Yamaguchi are regarded as leading C.banking candidates.

 

Thursday is the expected publication date for Australian employment statistics, which investors are monitoring. The Unemployment Rate is expected to remain constant at 3.4%, according to the majority of economists. Aside from this, the Australian economy must have added 22,500 new jobs to the labor market in December, a down from the prior rises of 64K.

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