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March 27 - GLM-5.1 is now available to all GLM Coding Plan users (Lite/Pro/Max).On March 27, AIA Group Limited (01299.HK) announced that its Board of Directors has approved a new share repurchase program amounting to US$1.743 billion in accordance with the Groups capital management policy. The company entered into an agreement on March 27, 2026, with a renowned international independent brokerage firm. Under the brokerage agreement, the company has agreed to pre-determine parameters for the brokerage firm to repurchase US$1.743 billion of its shares on the Hong Kong Stock Exchange.On March 27, Premier Li Qiang chaired an executive meeting of the State Council to study and implement the spirit of General Secretary Xi Jinpings important speech at the symposium on further promoting the high-quality construction and development of the Xiongan New Area. The meeting emphasized that the construction of the Xiongan New Area is a major strategic decision made by the Party Central Committee. The study and implementation of General Secretary Xi Jinpings important speech should be combined with the implementation of the Party Central Committees series of deployments regarding the construction and development of the Xiongan New Area. We must maintain strategic focus and historical patience, while also having a sense of urgency and drive to promote the high-quality construction and development of the Xiongan New Area with pragmatic and effective measures. We must focus our efforts on key tasks at this stage, enhance the driving force and attraction for the relocation of non-capital functions from Beijing, and comprehensively promote high-quality construction and efficient governance. We must leverage the advantages of the Beijing-Tianjin-Hebei region and other sectors to cultivate a modern industrial system and continuously enhance endogenous development momentum. All relevant parties should strengthen their overall perspective and execution capabilities, providing greater support to the New Area in policy and institutional innovation, the layout of major platforms, and regional economic cooperation. We must promptly study new situations and solve new problems, and consolidate greater synergy for the construction and development of the Xiongan New Area.According to CCTV: Li Qiang chaired an executive meeting of the State Council to study relevant policies and measures to accelerate the construction of a tiered medical system.According to CCTV: Li Qiang chaired an executive meeting of the State Council to hear a report on the current development of my countrys service industry.

The EUR/GBP exchange rate recovers above 0.8000 in advance of Eurozone inflation and UK gross domestic product

Alina Haynes

Mar 30, 2023 16:05

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The EUR/GBP pair extended its recovery above 0.88 during the Asian trading session. Anticipating that the European Central Bank (ECB) will continue to raise interest rates to combat persistent inflation, the cross has depreciated progressively. Friday will see the publication of preliminary Eurozone Harmonized Index of Consumer Prices (HICP) and Gross Domestic Product (GDP) (Q4) figures. Prior to the publication of these figures, it is anticipated that the asset will exhibit explosive activity.

 

It is anticipated that the preliminary Eurozone HICP will decelerate significantly from 8.5% to 7.3%. While it is anticipated that the core HICP will rise to 5.7% from 5.6% in the previous release. Weak energy prices are anticipated to have a significant impact on Eurozone inflation. In light of Christine Lagarde's prediction that inflation will remain elevated for an extended period of time, the European Central Bank (ECB) is expected to continue tightening monetary policy.

 

In the interim, banking tensions are subsiding as the absence of information regarding additional collateral damage has a positive impact on the market. Chief Economist Philip Lane stated on Wednesday that ECB interest rates must rise if banking tension has no or a "relatively limited" impact.

 

Investors avidly anticipate the United Kingdom's Gross Domestic Product (GDP) data. According to the consensus, the United Kingdom's growth in the fourth quarter of CY2022 remained unchanged. It is anticipated that the annual GDP will remain unchanged at 0.4%. It is expected that the British economy will undergo a severe recession as a result of high inflation and sluggish growth.

 

The Bank of England (BoE) policymakers appear confident that inflation will moderate in the near future and that the unexpected rise in February's inflation was a one-time anomaly; however, the absence of evidence raises doubts. If inflation persists, BoE Governor Andrew Bailey stated that additional rate increases would be announced. In contrast, Bank of America (BoA) analysts anticipate that the Bank of England (BoE) will not increase rates and will maintain current levels until 2024.


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