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On August 12th, the Peoples Bank of China (PBOC) released its 2026 Q2 China Monetary Policy Implementation Report. Since the beginning of this year, influenced by factors such as the tense situation in the Middle East, international crude oil and commodity prices have risen, and inflation levels in major economies have generally increased due to external supply shocks. Recently, the monetary policies of major overseas central banks, such as the Federal Reserve and the European Central Bank, have shown adjustments or tendencies towards adjustments, which may have spillover effects on the global economy and financial markets. The monetary policy stances of major overseas central banks are trending towards a shift. As of the end of July, among the central banks of major developed economies, the European Central Bank and the Bank of Japan had raised interest rates, while the Federal Reserve maintained its interest rate but released hawkish signals. It is expected that this round of monetary policy adjustments by major central banks will be relatively mild. Over the past decade or so, monetary policy adjustments by major central banks have often had significant spillover effects on the global economy and financial markets. However, based on the current situation, it is expected that the magnitude of this round of monetary policy adjustments will be relatively mild, and the impact may be smaller than in the past.A senior Iranian source said the United States violated the interim agreement just 48 hours after it was reached and withdrew from it a few days later.A senior Iranian source stated that there have been no discussions between Iran and the United States regarding extending the ceasefire. From Irans perspective, the ceasefire agreement has no effective date, therefore there is no need to extend it.Market sources indicate that a senior Iraqi security delegation will visit Saudi Arabia tomorrow to discuss a range of security issues.Germanys unadjusted current account balance for June was €19 billion, compared to €10.4 billion in the previous month.

The conclusion of the Argentine truckers' strike increases grain shipments

Charlie Brooks

Jul 01, 2022 11:36


The Argentine truckers' strike ended on Thursday, when several unions incensed by fuel shortages reached an agreement to terminate the one-week protest near the vital port of Rosario, which is expected to assist future grain exports.


The truck driver's protest over high gasoline prices has halted shipments of corn and other goods, just as the bulk of the harvest was making its way to ports for export to worldwide markets.


Due to the exclusion of a few tiny truckers groups from the deal, however, it is possible that certain protests may continue.


Argentina is the second-largest exporter of maize, the top exporter of processed soy oil and meal, and a major supplier of wheat and beef.


One of the unions, Autoconvocados Unidos, issued the following statement: "Despite our dissatisfaction (with the latest settlement of truck freight rates) and in light of the present crisis in our country, we have chosen to halt the strike."


The union described their action as an act of kindness.


The number of trucks entering ports surged by 70 percent on Thursday compared to the previous day, reaching approximately 1,500 vehicles, as reported by the Rosario grains market.


The Rosario ports are the departure point for 80 percent of Argentina's agricultural exports, the vast majority of which are transported by truck.


The ability of trucks to access the port is returning to normal, according to the manager of the country's marine port chamber, Guillermo Wade.


Additionally on Wednesday, the transport ministry secured a deal with non-striking agricultural and transport groups to hike grain freight charges by 25%.


However, the majority of protesting unions, led by the UNTRA truckers' union, felt the rate increase insufficient and chose to dismantle highway blockades.


The head of the UNTRA, Carlos Geneiro, said, "We have far greater expenses than that."


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