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On April 3, Morningstar Information (MORN.N) released its 2024 financial report. The companys full-year revenue in 2024 was US$2.3 billion, an increase of 11.6% over the previous year; consolidated operating profit reached US$484.8 million, a year-on-year increase of 110.2%; cash flow from operating activities was US$591.6 million, a year-on-year increase of 87.0%; free cash flow reached US$448.9 million, a year-on-year increase of 127.5%. In terms of business, credit business is the main driving force for the companys revenue growth, achieving a 35.1% increase, and the adjusted operating profit margin rose to 26%, an increase of 15.9 percentage points over the previous year. In addition, in 2024, the companys investment management and consulting assets increased by 12.3% and 19.7% respectively over the previous year. At the same time, the companys investment advisory accounts achieved double-digit growth in 2024.Japanese Minister of Economy, Trade and Industry Yoji Muto: We are strongly concerned about whether the US tariff measures are in line with WTO agreements.Japanese Minister of Economy, Trade and Industry Yoji Muto: We will strongly request the United States to exempt Japan from tariff measures and set up a special working group to provide information and grasp the impact.Japanese Minister of Economy, Trade and Industry Yoji Muto: The content of (US tariffs) needs to be analyzed and the impact on the Japanese economy examined.Japanese Economy, Trade and Industry Minister Yoji Muto: We have told the United States that the new tariff announcement is "extremely regrettable."

As a result of hawkish RBA minutes, AUD/JPY surges to around 93.00

Alina Haynes

Feb 21, 2023 15:20

As the Reserve Bank of Australia's minutes revealed a hawkish stance, the AUD/JPY pair surged to near 93.00 during the Tokyo session (RBA). The RBA minutes make it plainly clear that higher interest rates are essential because robust consumer demand prevents the Australian inflation rate from decreasing from its peak.

 

According to the minutes, RBA members considered a 50 basis point (bps) increase in interest rates in light of the persistence of inflation. Members of the RBA also remarked that the unemployment rate is at its lowest point in the past fifty years and that the number of job opportunities is astronomically high, which is a source of happiness for consumers who are injecting surplus income into the economy.

 

Aside from this, the Australian economy benefited from improved trade terms and would benefit more from China's openness than a number of other countries. The Chinese government's relaxation of pandemic laws has expanded Australia's trading potential.

 

Philip Lowe, governor of the Reserve Bank of Australia, anticipates that the cash rate will climb to 3.75 percent over time, with headline inflation decreasing to 4.75 percent by the end of 2023 and returning to approximately 3 percent by the middle of 2025.

 

Previously, S&P Global reported upbeat preliminary Australian PMI (Feb) data. The Manufacturing PMI hit 50.1, above both the consensus forecast of 49.9 and the prior figure of 50.0. The Services PMI increased from 48.4 (estimated) and 48.8 to 49.2. (previously released).

 

About the Japanese Yen, Bank of Japan (BoJ) Governor Haruhiko Kuroda stated, "Due to labor demand and inflation, wage growth is predicted. The Japanese Yen has not notably reacted to the preliminary Jibun Bank PMI (Feb) statistics, which were mixed. The Services PMI has risen to 53.6, surpassing both the consensus expectation of 51.5 and the prior figure of 51.1. While the Manufacturing PMI has declined to 47.4 compared to expectations and the previous reading of 48.9, it remains above the 50-point threshold indicating expansion.


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