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Real-time News
July 22 – With the approval of the State Council, the General Administration of Sport today released the "15th Five-Year Plan for Building a Sports Power." This is the first national-level special plan themed on "building a sports power," and it systematically deploys the construction of a sports power and the promotion of high-quality sports development during the 15th Five-Year Plan period. The Plan proposes that by 2030, the overall quality and efficiency of sports development will be significantly improved, its comprehensive value and diverse functions will be fully demonstrated, the foundation for sports to become a landmark undertaking for the great rejuvenation of the Chinese nation will be more solid, the per capita sports venue area will reach about 4 square meters, the proportion of people who regularly participate in physical exercise will reach about 40%, the national physical fitness rate will reach 31.1%, the number of world champions will rank among the top, and the total scale of the sports industry will exceed 7 trillion yuan.Russian Foreign Minister Sergey Lavrov: A meeting with US Secretary of State Marco Rubio is scheduled for tomorrow.Jefferies: Inflation data reinforces the Bank of Englands case for maintaining interest rates rather than raising them in the long term. However, geopolitical risks could push up inflation, keeping markets cautious.According to Fox News: U.S. Trade Representative Greer will testify before a Senate subcommittee today regarding Trumps trade and tariff policies.On July 22nd, Deutsche Bank analyst Sanjay Raja stated that Junes inflation data will buy Bank of England policymakers more time. With an inflation rate of 2.6% (down from 2.8% in May), the current headline CPI inflation rate is 0.4 percentage points lower than the Bank of Englands April Monetary Policy Report forecast. The bad news is that the rebound in commodity prices such as energy and fertilizers will keep inflation forecasts high. Inflation will rise further from current levels and could approach 3.5% in the fourth quarter. We believe this will continue to temporarily shelve any prospect of interest rate cuts, while allowing the Monetary Policy Committee to retain its slightly tightening bias.
