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On October 16, Bank of Japan (BoJ) board member Naoki Tamura delivered a speech at the Financial and Economic Council Meeting held in Naha. He stated that upward price risks are increasing and stated that "the time has come to consider raising interest rates." After opposing maintaining the policy rate unchanged and demanding an additional rate hike in September, he hinted that he might again propose a rate hike at the monetary policy meeting on October 29-30. Regarding price trends, he emphasized that "I personally believe that the price target is likely to be achieved earlier," which contrasts with the Bank of Japans projection of achieving its 2% price stability target only in the latter half of its outlook period to 2027. He reiterated that the current 0.5% policy rate "has a very limited impact on the overall Japanese economy" and emphasized that "there is still considerable room to reach the neutral rate." To avoid delayed rate hikes that would necessitate sharp hikes in the future to curb inflation, he reiterated the need to gradually reduce monetary easing through rate hikes.Fitch Ratings: Commodity prices and consumer confidence pose challenges to Australian businesses.Hong Kong-listed Cable & Wireless (01097.HK) fell over 16%, with a trading volume exceeding 39.46 million lots.Japans 5-year government bond yield rose 1.5 basis points to 1.205%, while the 40-year bond yield fell 3.5 basis points to 3.4%.Hong Kong-listed Giant Biopharmaceuticals (02367.HK) fell more than 15%, with a cumulative decline of more than 25% this month.

Britain should severely restrict "fire risk" e-scooters

Aria Thomas

Mar 31, 2022 10:32

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(Reuters) – LONDON – Given the amount of injuries from illicit vehicles and the fire risks posed by their batteries, Britain should impose rigorous rules on electric scooters if their legal usage is expanded beyond current government trials, insurers said on Thursday.


According to the UK government, trials of shared rental e-scooters are going place in 31 locations of England this year.


However, privately owned e-scooters are already a common sight on city streets, despite the fact that their usage is forbidden outside of private property unless the owners grants permission.


According to official records, there were 882 accidents involving e-scooters in the fiscal year ending June 2021, resulting in 931 injuries, 732 of whom were e-scooter users.


"Illegal use of e-scooters now poses a considerable danger to riders, pedestrians, and other road users," said Chris Jones, director of legal and market services at the International Underwriting Association.


"It is critical that a suitable and effective regulatory framework be implemented as soon as possible."


In a letter to Transport Minister Grant Shapps, four insurance trade organizations demanded clear criteria on e-scooter design and safety equipment, including batteries, charging, brakes, and illumination, as well as if protective equipment is necessary.


The lithium batteries in e-scooters constituted a fire danger, and their movement and storage should be controlled, according to the trade associations.


They also suggested that the authorities look at how e-scooters are parked to ensure that they do not become a safety problem.