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The Beijing Economic-Technological Development Area Management Committee issued the "Implementation Plan on Further Accelerating the Construction of a City of Artificial Intelligence (2026-2027)." International News: 1. CME raised the margin requirements for gold, silver, platinum, and palladium futures. 2. The US federal government entered a technical, partial shutdown. 3. Indonesias financial regulatory agency appointed an interim head and an executive head. 4. Trump announces Brett Matsumotos nomination as the new director of the Bureau of Labor Statistics. 5. Sources: Talks between Russia and the United States have begun in Miami, Florida. 6. SpaceX applies to deploy one million satellites to build an orbital AI data center network. 7. According to Interfax: Russia lifts its ban on gasoline exports to producers. 8. Jensen Huang: Will definitely participate in this round of investment in OpenAI, which may be the largest investment in the companys history. 9. Federal Reserve Chairman nominee Warsh is reportedly involved in the Epstein case; US Commerce Secretary Lutnick is reportedly reported to have visited Epsteins private island. 10. An explosion occurred in a building in southern Iran; the Iranian Islamic Revolutionary Guard Corps denies rumors of an assassination attempt on Navy Commander Donsiri; two Israeli officials stated that Israel was not involved in the Iranian explosion.On January 31st, at the Fourth Session of the 14th Heilongjiang Provincial Peoples Congress, which opened on January 31st, expanding domestic demand and promoting consumption were once again key tasks in the government work report. In 2026, Heilongjiang Province will hold over 2,000 consumption-promoting activities, including "Shopping in Heilongjiang," and distribute over 800 million yuan in government consumption vouchers. 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The investment structure continued to optimize, with investment in high-tech manufacturing increasing by 11.5% year-on-year, and the proportion of private investment increasing by 2.2 percentage points.January 31st - To effectively curb the sources of cybercrime, rectify the cybercrime ecosystem, and enhance the publics sense of security and satisfaction with cybersecurity, the Ministry of Public Security, after thorough research and demonstration, has drafted the "Cybercrime Prevention and Control Law (Draft for Public Comment)," and is now soliciting public opinions. The deadline for feedback is March 2nd, 2026.January 31st - According to Lighthouse Pro, as of 9 PM on January 31st, the total box office for January 2026 reached 1.961 billion yuan, with "Zootopia 2" holding the top spot for the third consecutive month.On January 31, the "Implementation Plan of Beijing Economic-Technological Development Area on Further Accelerating the Construction of a City of Artificial Intelligence (2026-2027)" was released. The Implementation Plan systematically outlines the development goals for the Beijing Economic-Technological Development Areas city of artificial intelligence over the next two years, proposing to accelerate the construction of a city-level engineering experimental platform driven by data and scenarios, and to promote the application of artificial intelligence in various industries and households. The Implementation Plan specifies that by the end of 2027, the focus will be on building no fewer than 10 benchmark intelligent scenario complexes, promoting the application of 100 vertical models, constructing a number of high-quality industry datasets, gathering 1,000 core enterprises in the artificial intelligence industry chain, attracting 10,000 super individuals and independent developers, and significantly enhancing the scale and level of the core industries of the intelligent economy.

NZD/USD Increases close to 0.6240 as RBNZ Increases Ocr by 50 Basis Points to 4.75 Percent

Alina Haynes

Feb 22, 2023 15:23

NZD:USD.png 

 

Demand for the NZD/USD pair has surged dramatically as a result of the Reserve Bank of New Zealand's (RBNZ) hawkish attitude on interest rates. Reserve Bank of New Zealand Governor Adrian Orr has raised the Official Cash Rate (OCR) by 50 basis points (bps) to 4.75 percent. It was widely anticipated that a decision to increase interest rates by 50 basis points would be made. The RBNZ hiked interest rates by 75 basis points during its November monetary policy meeting, something investors should be aware of.

 

As the Reserve Bank of New Zealand (RBNZ) failed to significantly cut the Consumer Price Index (CPI) in the New Zealand economy, a significant rate increase was anticipated. Inflationary pressures in the New Zealand economy have not yet reached their pinnacle as a result of the RBNZ's continuous policy tightening, but the labor market has begun to manifest damage.

 

Even though New Zealand Prime Minister Chris Hipkins has committed a NZ$300 million ($187.08 million) disaster aid package, the recent release of helicopter money may boost inflationary pressures.

 

The statement of monetary policy will determine whether the RBNZ maintains its goal of an OCR peak of 5.5% by May.

 

Statistics January exports and imports data were released by New Zealand during the early Asian session. Compared to the previous report, exports declined to $5.47 billion from $6.72 billion, while imports grew. This indicates that domestic demand is extremely robust.

 

Indicative of their caution, investors have begun discounting Federal Reserve (Fed) interest rates to 5%. Yet, investors' appetite for risk is growing as risk-perceived assets gain momentum. The US Dollar Index (DXY) fails to surpass the important level of resistance at 103.90. In the future, the USD Index will be affected by the release of the Federal Open Market Committee's minutes (FOMC).