EUR/USD
1.16121
-0.114%
Gold
4395.00
-1.373%
Oil
89.727
1.547%
USD/JPY
159.545
0.020%
GBP/USD
1.34008
-0.197%
GBP/JPY
213.808
-0.169%
Real-time News
On May 28th, European Central Bank Chief Economist Lane stated on Thursday that even if the Middle East conflict is resolved quickly, the resulting energy shock could still have a lasting impact on inflation. While historically, oil prices tend to fall back to their original levels after a surge, the current situation may be different as countries replenish their inventories or adjust their energy mix, potentially keeping energy costs high. Lane stated, "Global oil supply experienced a fairly rapid and significant drop overnight, a situation previously masked by inventories. Even as the initial energy shock begins to subside, the second wave of effects will continue for some time." Lane indicated that some policy lessons can be learned from past energy shocks, such as how rising energy costs can suddenly push up inflation and trigger "various non-linear" mechanisms, thus broadening the scope of price increases. "But this is different from the non-linear situation four years ago," when supply disruptions caused by the war in Ukraine and strong demand from the economic reopening following the COVID-19 pandemic jointly pushed up inflation. Lane stated that central banks must face any major shocks and their potential impact on inflation, but should avoid overreacting when formulating monetary policy.The China Earthquake Networks Center officially determined that a magnitude 4.0 earthquake occurred at 10:37 on May 28 in Yushu City, Yushu Prefecture, Qinghai Province (33.05 degrees north latitude, 96.16 degrees east longitude), with a focal depth of 10 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.0 occurred at 10:37 AM on May 28 near Yushu City, Yushu Prefecture, Qinghai Province (33.06°N, 96.20°E). The final result is subject to the official rapid report.Bank of Korea Governor Shin Hyun-song: The GDP deficit is expected to turn positive in 2027.On May 28, it was reported that on May 25, Luo Wen, Director of the State Administration for Market Regulation of the Peoples Republic of China (Certification and Accreditation Administration of the Peoples Republic of China), and Khalil Hashmi, Pakistans Ambassador to China, signed a Memorandum of Understanding on Cooperation in the Field of Conformity Assessment between the State Administration for Market Regulation of the Peoples Republic of China (Certification and Accreditation Administration of the Peoples Republic of China) and the Ministry of Science and Technology of the Islamic Republic of Pakistan. The two sides will cooperate in the field of conformity assessment, including technical exchanges and training, joint research, etc., to reduce technical barriers to trade in areas of common concern, facilitate bilateral trade, and inject new impetus into the China-Pakistan community with a shared future.
