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March 16 – As the Middle East war threatens the energy security of importing countries, Japan has begun releasing its national oil reserves. The Japanese government announced in an official gazette on Monday that it will reduce the amount of crude oil reserves that refiners must maintain from March 16 to April 15. The statement indicated that a temporary formula will be used to calculate the required reserve levels. Prime Minister Sanae Takaichi stated last week that Japan would release 80 million barrels of oil to stabilize the economy. Minister of Economy, Trade and Industry Ryosuke Akazawa stated last Friday that Japan will sell its national oil reserves at pre-war prices for the Iran-Iraq War. If domestic demand is insufficient, the remaining products refined from the crude oil may be exported overseas.On March 16th, the State Administration for Market Regulation officially approved the establishment of the National Satellite Internet System and Service Standardization Technical Committee. In recent years, with the accelerated construction of low-Earth orbit satellite constellations, the application of satellite internet in areas such as direct mobile phone connections, emergency communications, marine fisheries, transportation and logistics, and communication support in remote areas has been continuously expanding. my countrys satellite internet industry ecosystem is becoming increasingly active, and its industrial capabilities are constantly strengthening. This years Government Work Report proposed to "accelerate the development of satellite internet." To fully leverage the leading and fundamental role of standardization in the construction of new satellite internet infrastructure and promote the healthy development of the intelligent economy, the newly established National Satellite Internet System and Service Standardization Technical Committee will address the current characteristics of rapid industrial technology development and the influx of diverse commercial entities. It will broadly gather the strength of all parties, promote resource sharing within the industry, accelerate the development of urgently needed standards such as satellite internet terminology, constellation on-orbit operation assessment, and key system products, continuously improve the satellite internet standard system, actively participate in international standard setting, and promote the rapid, standardized, and healthy development of the satellite internet industry.On March 16th, Xu Guodong, Director of the Department of Marine Area and Island Management of the Ministry of Natural Resources, stated that with the continuous improvement of residents consumption levels, leisure and entertainment activities such as yachting and sea fishing are showing rapid development and have great consumption potential. Promoting the development of yachting and sea fishing not only meets the peoples aspirations for a better life but will also help promote the marine cultural tourism industry to become an important growth point during the "15th Five-Year Plan" period.According to sources, Baidu-backed life science platform company "BaiTu Life Sciences" has secretly submitted an application for listing in Hong Kong and is expected to raise hundreds of millions of US dollars through the listing this year.US President Trump: The courts have been extremely unfair to Republicans and to me, always seeming to favor those who shouldnt be protected. Theyve been completely politicized. The case itself doesnt matter; its the judge who decides.

The AUD/JPY exchange rate fluctuates below 90.00 as investors await BoJ action

Alina Haynes

Jan 18, 2023 15:03

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In the early Asian session, the AUD/JPY currency pair is bouncing violently in a narrow range below the resistance level of 90.00. Before the Bank of Japan introduces its first monetary policy of CY2023, the risk barometer indicates a sideways auction (BoJ). The AUD/JPY exchange rate reflects the consolidation of the AUD/USD, indicating an uncertain risk profile.

 

Investors anticipate that the Bank of Japan (BoJ) will not alter its policy stance on Friday, as doing so would increase financial market risk and hinder efforts to boost inflation. Previously, the Bank of Japan (BoJ) announced that the central bank will review the negative side effects of the decade-long ultra-loose monetary policy, generating the impression that the central bank is eager to abandon the easy policy.

 

The experts at Standard Charted expect the Bank of Japan to hold both the policy balance rate and the 10-year yield goal at their present levels of -0.1% and 0%, respectively. The recent decision to expand the 10-year JGB band to +/-50 bps (from +/-25 bps) will be evaluated by policymakers at the December meeting.

 

The replacement of current Governor of the Bank of Japan Haruhiko Kuroda will be widely followed. The next BoJ governor nominee is anticipated to be presented to the Japanese parliament on February 10, Reuters reported on Tuesday. Amamiya, Nakaso, and Yamaguchi are regarded as leading C.banking candidates.

 

Thursday is the expected publication date for Australian employment statistics, which investors are monitoring. The Unemployment Rate is expected to remain constant at 3.4%, according to the majority of economists. Aside from this, the Australian economy must have added 22,500 new jobs to the labor market in December, a down from the prior rises of 64K.

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