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On January 31st, Peter Cardillo, Chief Market Strategist at Spartan Capital Securities, stated, "I dont want to say that Warshs nomination as the new Federal Reserve Chairman was entirely unexpected. He has always been considered hawkish, but recently he seems to be converging with Trumps position, making it a bit difficult to assess how the market will accept this nomination. We just need to see if he will be influenced by the White House. My guess is that he wont; he will examine issues very carefully and maintain a certain balance on inflation and the labor market. He may not be as decisive as Powell, but he wont be too far off."On January 31, the Political Bureau of the CPC Central Committee held its 24th collective study session on the afternoon of January 30, focusing on forward-looking planning and the development of future industries. Xi Jinping, General Secretary of the CPC Central Committee, emphasized during the session that a new round of technological revolution and industrial transformation is accelerating, with cutting-edge technologies constantly emerging, leading and supporting the rapid rise of future industries. He stressed the need to approach this from a strategic perspective of building a strong nation and achieving the great rejuvenation of the Chinese nation, leveraging objective conditions and comparative advantages, adhering to the principle of seeking progress while maintaining stability and cultivating industries in a phased manner, to continuously achieve new breakthroughs in the development of my countrys future industries.On January 31, NASA announced that the Perseverance rover had successfully completed its first maneuver on the Martian surface using an AI-planned route. According to NASAs website, the demonstration mission, led by the Jet Propulsion Laboratory, took place on December 8 and 10, 2025. The mission team used generative artificial intelligence with visual understanding capabilities to analyze high-resolution images taken by the Mars Reconnaissance Orbiter (MRO) and data on terrain and slope, identifying key terrain features such as rocks, sand ripples, and boulder deposits. This generated a continuous route with multiple path nodes, helping Perseverance safely traverse complex terrain. Previously, this work was primarily done by ground engineers. Perseverance stored the AI-generated path nodes in its memory and traveled approximately 210 meters on December 8 and another 246 meters two days later.According to Interfax news agency, production at Kazakhstans Tengiz oil field has resumed.On January 31st, the Institute of Finance and Banking of the Chinese Academy of Social Sciences released its "China Macroeconomic and Financial Analysis" report for the fourth quarter of 2025, which pointed out that in 2026, my countrys economic policy orientation will shift from "strengthening unconventional counter-cyclical adjustments" to "increasing the intensity of counter-cyclical and cross-cyclical adjustments." The macroeconomic and financial analysis team of the Institute of Finance and Banking of the Chinese Academy of Social Sciences believes that in 2026, it is necessary to adhere to both policy support and reform and innovation, and to coordinate short-term macroeconomic control with medium- and long-term reform and governance. To this end, they propose three suggestions: First, fiscal and financial efforts should be coordinated to effectively unleash the potential of domestic demand; second, high-quality urban renewal should be used as a lever to stabilize investment; and third, innovative approaches to macroeconomic governance should be adopted to accelerate the repair of the balance sheets of micro-entities.

High Mortgage Rates Force First-time Buyers to Rent, According to Rightmove

Aria Thomas

Nov 25, 2022 14:27

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The property website Rightmove (OTC:RTMVY) said on Friday that the demand for rental homes in the United Kingdom surged in October as prospective first-time buyers postponed their purchases owing to rising mortgage rates.


However, the total number of renters and purchasers on the market declined by 1% compared to the same period previous year.


In recent months, mortgage rates in the United Kingdom have risen beyond 6%, increasing after the "mini-budget" of former prime minister Liz Truss on September 23 rattled financial markets.


Since then, rates have fallen due to Jeremy Hunt's Autumn Statement, which guaranteed stamp duty reductions through March 31, 2025.


According to Britain's largest property marketplace, first-time buyers have been significantly impacted by the hike, prompting them to consider renting in the near future while they await the inevitable stability of mortgage rates.


Tim Bannister, a property expert at Rightmove, commented, "It is very understandable why some buyers, especially first-time buyers, are waiting for better financial stability."


Now that there are indicators that mortgage rates are stabilizing, it is probable that they will settle at a higher level than buyers in the past have experienced.


42% of prospective first-time buyers who intend to enter the property market over the next several years have already amassed their entire down payment while awaiting a reduction in interest rates. 43% more were engaged in savings.


Tenants are already facing a large increase in expenses owing to the rising costs of electricity, fuel, food, and council tax, which are reflected in the statistics.


As a result of the highest rate of inflation in 41 years, real wages are decreasing, placing incomes under the most severe pressure in decades.

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