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Russia has stated that its troops have captured the village of Tsvetkove in the Zaporizhzhia region of Ukraine.On February 15th, Russian Deputy Foreign Minister Galuzin stated that Russia is willing to discuss the possibility of introducing a UN-led interim external governance mechanism into Ukraine with the United States, Europe, and other regional countries. Galuzin stated that this approach would allow Ukraine to hold democratic elections and produce a government with governing capacity capable of signing peace treaties and other legitimate treaties related to international cooperation. Similar precedents have been set in UN peacekeeping operations. In March 2025, Russian President Putin stated that this was a feasible option. Galuzin also indicated that the possibility of such an approach has not been publicly discussed recently.February 15th news: The fourth issue of Qiushi magazine, to be published on February 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Key Tasks of Current Economic Work." The article points out that it is necessary to adhere to the bottom line and actively and steadily resolve risks in key areas. Strengthen the coordination between risk prevention and development promotion policies to further enhance development resilience. Focus on stabilizing the real estate market, implementing city-specific policies to control new supply, reduce inventory, and optimize supply, encouraging the acquisition of existing commercial housing for the purpose of affordable housing, etc. Deepen the reform of the housing provident fund system, orderly promote the construction of "good houses," and accelerate the construction of a new model for real estate development. Actively and orderly resolve local government debt risks, urging local governments to proactively resolve their debts. Optimize debt restructuring and replacement methods, and take multiple measures to resolve the operational debt risks of local government financing platforms.February 15th news: The fourth issue of Qiushi magazine, to be published on February 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Key Tasks of Current Economic Work." The article points out that it is necessary to persist in reform and strengthen the driving force and vitality of high-quality development. This includes formulating regulations for the construction of a unified national market, thoroughly addressing "involutionary" competition, and creating a sound market ecosystem. It also includes formulating and implementing a plan to further deepen the reform of state-owned assets and enterprises, and improving supporting regulations and policies for the Law on Promoting the Private Economy. Furthermore, it calls for accelerating the clearing of overdue payments to enterprises, promoting win-win development for platform enterprises and their operators and workers, expanding pilot projects for market-oriented reforms of factors of production, optimizing the structure of fiscal transfer payments, and improving the local tax system. Finally, it emphasizes further promoting the reduction and improvement of small and medium-sized financial institutions and continuously deepening the comprehensive reform of investment and financing in the capital market.February 15th news: The fourth issue of Qiushi magazine, to be published on February 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Key Tasks of Current Economic Work." The article points out that it is necessary to adhere to innovation-driven development and accelerate the cultivation and expansion of new growth drivers. It emphasizes adhering to the principle of using scientific and technological innovation to lead industrial upgrading and continuously generate new quality productivity. It calls for formulating an integrated plan to promote the development of education, science and technology talent. It also emphasizes building international science and technology innovation centers in Beijing (Beijing-Tianjin-Hebei region), Shanghai (Yangtze River Delta region), and the Guangdong-Hong Kong-Macao Greater Bay Area, creating world-class sources of scientific and technological innovation. Furthermore, it stresses strengthening the leading role of enterprises in innovation, supporting the expansion of application demonstrations of new technologies, new products, and new scenarios, improving the intellectual property protection system in emerging fields, and accelerating the transformation of scientific and technological achievements. The article also calls for formulating an action plan to expand and improve the service industry, implementing a new round of high-quality development action for key industrial chains, deepening and expanding "artificial intelligence +", improving artificial intelligence governance, and innovating science and technology financial services.

GBP/JPY Nears 161.50 As Risk-On Sentiment Roughens The Waters

Daniel Rogers

Mar 20, 2023 13:25

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In the early hours of Monday's Asian session, GBP/JPY appreciated as Japanese Yen demand waned in response to rising liquidity optimism. Monday's improvement in risk appetite was the consequence of a global effort to end the liquidity crisis of the previous week.

 

In order to restore confidence in the financial system, several major central banks, including the Bank of Japan (BoJ) and the Bank of England (BoE), have coordinated efforts to dilute the global banking ecosystem with US Dollars. This is the reason why the transition line has been implemented.

 

This swap line's principal source of financing is the Federal Reserve (Fed); the Fed will lend US Dollars to other central banks in exchange for local currency as a short-term loan. The exchange line will begin on Monday and continue through April.

 

Sunday, the Bank of England issued a statement welcoming the Swiss government's decision to merge Credit Suisse and UBS Group and reiterating that the UK banking system is adequately capitalized and funded. The Bank of England (BoE) will make a decision regarding interest rates on Thursday, and it will be crucial to observe their future direction. Given the ongoing liquidity crisis, this may be the last time the BoE raises interest rates.

 

March meeting of the Bank of Japan The previously released Summary of Opinions contains no new information, as the Federal Reserve has maintained an extremely permissive monetary stance for decades. In addition, Japanese Finance Minister Shunichi Suzuki stated on Monday that he was closely monitoring market movements in the wake of Credit Suisse Group's rescue agreement over the weekend.

 

This week, it is also crucial to monitor the liquidity situation, citing reports that two European banks are under close observation. Therefore, it is probable that upward advances in the GBP/JPY pair will continue to be fragile.