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On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

GBP/JPY finds support close to 167.30 as focus shifts to UK inflation and BOE policy

Alina Haynes

Dec 12, 2022 15:42

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The GBP/JPY pair is gauging demand after slipping to approximately 167.30 during the early Asian session. After failing to surpass the 168.00 round-level barrier, there was selling pressure on the cross. In the interim, the GBP/USD pair has retraced ahead of the Federal Reserve's (Fed) monetary policy, suggesting a cautious market tone.

 

As the policy divergence between the Bank of England (BOE) and the Bank of Japan (BOJ) is projected to widen further in the wake of the Bank of England's (BOE) interest rate hike on December 15, the cross is forecast to recover significantly.

 

Despite the recession, the Bank of England will increase interest rates by another 50 basis points (bps) next week, boosting the cost of borrowing to 3.50 percent, according to a Reuters poll. To eliminate inflationary pressures in the United Kingdom, additional policy tightening is necessary.

 

But before that, investors will focus on the United Kingdom's inflation data on Wednesday. According to projections, the annual inflation rate for November would likely increase from 11.1% to 11.5%. The recent rise in food price inflation, caused by a labor shortage and rising input costs, has raised expectations for the headline inflation rate.

 

As a result of a decrease in Gross Domestic Product (GDP) data, the likelihood of a dip in Tokyo's inflation has increased. A decline in demand never causes the price increase index to rise. Even if salaries climb by 3%, Bank of Japan (BOJ) Governor Haruhiko Kuroda believes the BOJ would retain its current easy monetary policy until inflation reaches 2%.


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