EUR/USD 1.15871
-0.218%
Gold 4360.91
-1.031%
Oil 90.962
2.884%
USD/JPY 158.648
0.133%
GBP/USD 1.34021
-0.266%
GBP/JPY 212.626
-0.070%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Japanese Finance Minister Satsuki Katayama: Plans to draft an 11-day temporary budget.On March 24th, Wang Yanqing, Director of the Information Technology Development Department of the Ministry of Industry and Information Technology (MIIT), stated that industrial parks are crucial carriers of my countrys industrial development. Going forward, the MIIT will promote the digital transformation of industrial parks from four aspects: industrial digital transformation, digital services for industrial parks, digital management of industrial parks, and the construction of digital support capabilities. This includes focusing on distinctive and advantageous industries, guiding enterprises in industrial parks to carry out digital transformation and upgrading, and supporting leading enterprises to open up digital scenarios and technological resources to drive collaboration across the entire industrial chain.On March 24th, the overnight SHIBOR was 1.3180%, up 0.10 basis points; the 7-day SHIBOR was 1.4170%, down 0.50 basis points; the 14-day SHIBOR was 1.5120%, down 1.20 basis points; the 1-month SHIBOR was 1.5040%, down 0.55 basis points; and the 3-month SHIBOR was 1.5160%, down 0.22 basis points.Japan Petrochemical Industry Association: Even at high prices, we are stepping up our naphtha procurement and doing everything we can to ensure that supply is not interrupted.On March 24, Liu Liehong, Director of the National Bureau of Data, stated at a press conference held by the State Council Information Office that the 9th Digital China Summit has added an "Artificial Intelligence" section to its on-site experience area, covering important aspects such as computing power, algorithms, data, and industry applications.

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.


Suggestion