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On September 10, He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, attended and addressed the opening ceremony of the Ministerial Forum on International Cooperation in Mining and the 2026 China International Mining Conference in Tianjin. He Lifeng pointed out that international cooperation in mining is an important vehicle for achieving complementary advantages among countries and promoting economic and social development, and it is also a practical need for maintaining the security and stability of the global supply chain. China has always fully respected the mineral resource sovereignty of all countries, supported each country in independently choosing resource development and industrial development paths suited to its national conditions, and is willing to deepen all-round pragmatic cooperation with all countries, share opportunities for mining development, and jointly create a bright future for a mutually beneficial, win-win, green, and prosperous global mining industry. During his stay in Tianjin, He Lifeng also inspected the construction and operation of the Sino-Singapore Tianjin Eco-City, the Tianjin Binhai-Zhongguancun Science and Technology Park, the national-level economic and technological development zone, and the comprehensive bonded zone.European Central Bank President Christine Lagarde: It is impossible to predict what the next step will be.European Central Bank President Christine Lagarde: There is nothing to announce regarding my future work arrangements.On September 10th, Deutsche Banks chief European economist, Mark Wahl, stated that despite rising inflation risks, the European Central Bank (ECB) should proceed with caution if it intends to raise interest rates again before the end of the year. The ECB raised its key interest rate by 25 basis points to 2.5% on Thursday. Wahl noted that a rate hike in December now seems highly likely. However, despite the economys resilience over the past six months, the sharp rise in natural gas prices indicates a negative supply shock is building. He said, "This will eventually hurt economic growth. The question is how much damage it will cause and when it will manifest."ECB President Christine Lagarde: The ECB will fulfill its responsibilities.

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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