Real-time News

IMF Managing Director Kristalina Georgieva: Will the European Central Bank need to adjust interest rates again? We need to observe.

IMF Managing Director Kristalina Georgieva: We will not see an immediate drop in oil prices. Although there will be some easing, it will take some time for countries to replenish their reserves.

June 18 – Foreign Ministry Spokesperson Lin Jian held a regular press conference on June 18. A reporter asked about Lai Ching-te's pro-Taiwan independence remarks made today. Lin Jian stated that the words and actions of the DPP authorities and Lai Ching-te himself cannot change the fundamental nature of the Taiwan issue as purely China's internal affair, cannot shake the international community's firm adherence to the one-China principle, and cannot stop the historical trend of China's eventual reunification. China's position of firmly opposing US arms sales to Taiwan is consistent and clear.

According to Saudi media Hadas, sources say Qatar and Pakistan will participate in talks between the United States and Iran.

ECB Governing Council member Koch said inflation will remain high for some time.

According to Saudi media Hadas, sources say that tomorrow's technical talks between the US and Iran will also involve political aspects related to the nuclear issue.

According to Saudi media outlet Hadas, sources say the first round of direct technical talks between Washington and Tehran will be held tomorrow in Switzerland. The technical talks between the US and Iran concern aspects of Tehran's frozen funds.

June 18th Futures News: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes: 1. Pulp futures warehouse receipts: 241,467 tons, an increase of 655 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 1,557 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,640 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 31,160 tons. 6. Petroleum asphalt futures warehouse receipts: 21,120 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 94,060 tons, a decrease of 280 tons from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.

On June 18th, Tai Hui, Chief Market Strategist for Asia at Morgan Asset Management, stated that at the first policy meeting chaired by newly appointed Federal Reserve Chairman Warsh, the FOMC unanimously decided to maintain the target range for the federal funds rate at 3.50%-3.75%. The signals from this meeting indicate that the Fed did not show any eagerness to ease monetary policy. Tai Hui further noted that the policy statement underwent a significant change in format, being about half the length of the previous version. Compared to the classic four-part detailed statement released in April, the latest statement was significantly streamlined and completely abandoned the previously implied dovish bias. At the same time, the descriptions of economic growth, the job market, and the inflation outlook were also noticeably more concise. He believes that at the current interest rate level, the FOMC seems willing to remain patient, thus maintaining the assessment that the Fed will not adjust interest rates this year.

The Swiss National Bank (SNB) predicts that global economic growth may be more moderate in the short term than in previous quarters. However, growth is expected to pick up again in the medium term. The Swiss franc may face upward pressure again.

The Swiss National Bank (SNB) warns that the situation in the Middle East could deteriorate again, further dampening global economic activity. In its baseline scenario, global inflation is expected to remain high in the coming quarters due to rising raw material prices.

Swiss National Bank: Inflation growth is mainly attributed to rising petroleum product prices.

The Swiss National Bank (SNB) stated that energy prices will be significantly impacted by further developments in the Middle East. In the coming quarters, moderate global economic growth is likely to dampen Swiss growth, while the SNB's monetary policy will have a supportive effect.

The Swiss National Bank: We will continue to monitor the situation and adjust monetary policy as necessary to ensure price stability.

The Swiss National Bank (SNB) projects Swiss GDP growth of approximately 1% in 2026 (previously 1%) and approximately 1.5% in 2027 (previously 1.5%).

The Swiss National Bank (SNB) projects inflation at 0.6% in 2026 (previously 0.5%) and 0.6% in 2027 (previously 0.5%).

Swiss National Bank: Our willingness to intervene in the foreign exchange market has increased.

On June 18, the Ministry of Commerce held a regular press conference. Ministry of Commerce spokesperson He Yadong responded to the latest developments in China-EU trade negotiations, stating that communication in the China-EU economic and trade field is proceeding smoothly. On June 9, Ling Ji, Vice Minister of Commerce and Deputy Representative for International Trade Negotiations, held talks with Jorgensen, Director-General of the European Commission's Directorate-General for Trade and Economic Security, at the EU headquarters. They discussed in depth and comprehensively the relevant work of the China-EU trade and investment consultation mechanism, preparing for the ministerial consultations scheduled for the near future. During the talks, the EU side stated that a trade war is not an objective of the EU's policy towards China and holds a positive attitude towards constructive dialogue between China and the EU. China is willing to work with the EU to implement the consensus reached by the leaders of both sides, manage differences through dialogue and consultation, properly handle frictions, promote pragmatic cooperation, and advance the healthy and stable development of bilateral economic and trade relations.