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Sources familiar with the matter revealed that JPMorgan Chase CEO Jamie Dimon plans to meet with British Chancellor of the Exchequer John Healy on Wednesday. The British government is considering imposing a windfall profits tax on banks in its upcoming budget.On September 9th, local time, the Iraqi Ministry of Transportation issued a statement saying that at 5:30 AM local time, a Panamanian-flagged oil tanker transporting fuel was struck by an unidentified object within Iraqi territorial waters, sustaining damage to its hull. No injuries or cargo leaks were reported. The statement said that following the incident, Iraqi security and maritime authorities immediately took preventative measures, isolating and continuously monitoring the vessel, while simultaneously conducting on-site monitoring of the surrounding waters to confirm whether there were any fuel leaks, other damage, or risks that could affect navigational safety and the marine environment. The Iraqi Ministry of Transportation stated that relevant departments are investigating the specific circumstances of the incident and verifying the source and cause of the attack.Traders have increased their bets on interest rate hikes by the European Central Bank and the Bank of England; they expect four rate hikes by the end of 2027.Amazon (AMZN.O) has set the size of its first sterling bond issuance at £4.25 billion.September 9th - According to sources familiar with the matter, Dow, a leading global materials science company, is considering exiting its $20 billion chemical joint venture with Saudi Aramco as part of the U.S. companys portfolio restructuring amid a prolonged industry downturn. As of last year, Dow held a 35% stake in the joint venture, Sadara Chemicals, with Saudi Aramco holding the remainder. Saudi Aramco may use this opportunity to acquire Dows stake and increase its holdings. Sources indicate that other strategic or financial investors may also bid for Dows stake. No final decision has been made, and the company may ultimately decide not to proceed with the transaction. Sadara, established in 2011, aims to develop an integrated chemical park with a total investment exceeding $20 billion. It operates 26 production units, producing more than 3 million tons of chemicals and plastics annually. During the investment process, Dow has taken on Sadaras debt exposure, including a guarantee for a $500 million revolving credit facility to help finance potential funding shortages. According to Dow, Sadara has drawn $80 million from this facility in the fourth quarter of 2025.

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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