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August 22 - According to Shana, the official website of the Iranian Ministry of Oil, 70% of the repair work on the South Pars Phase 14 natural gas refinery, which was attacked by Israel last June, has been completed. Touraj Dehqani, CEO of Pars Oil and Gas Company, stated that the refinery will be fully operational by the end of this year, and the damaged sections will be fully integrated into the production cycle.On August 22, according to Irans Mehr News Agency, Iranian Defense Ministry spokesman Reza Tarai-nik stated in an interview with Iranian state television that Irans weapons and defense equipment production has doubled in the past year. Tarai-nik said that after the 12-day conflict with the US and Israel last June, Irans overall weapons and defense equipment production doubled, with some strategic equipment prioritized for wartime deployment seeing production more than triple. This directly contradicts claims made by US and Israeli leaders that "Iranian defense production will stagnate."On August 22nd, the Hengqin Guangdong-Macao In-Depth Cooperation Zone achieved a milestone in its departure tax refund business—completing over 1,000 tax refund transactions and driving over 7.3 million yuan in inbound shopping spending, injecting new momentum into the integrated consumption of Hengqin and Macao. Since the official opening of the Hengqin Port departure tax refund service point on July 1st this year, the Cooperation Zone has fully leveraged its geographical advantage of being adjacent to Macao, actively implemented the national departure tax refund 2.0 policy, and launched a series of "low-threshold, high-efficiency, and intelligent" service measures. To date, over 100 departure tax refund shops have been registered in Hengqin and Zhuhai, covering diverse business formats such as digital products, apparel and department stores, and cultural and creative products. Overseas tourists can apply for a tax refund for a single purchase of 200 yuan or more, effectively stimulating inbound consumption.On August 22, Bulgarian Defense Minister Stoyanov told the media that the US KC-135 tanker aircraft formerly stationed at Bezmer Air Base in Bulgaria had left on August 21. Stoyanov further explained that the US tanker aircraft primarily conducted training activities during their deployment in Bulgaria and did not leave NATO airspace. On July 22, the Bulgarian parliament approved the deployment of eight US KC-135 tanker aircraft and 250 US military personnel to Bezmer Air Base in eastern Bulgaria until October 1.August 22nd - Currently, my countrys computing power is growing rapidly, computing equipment is upgrading towards higher energy efficiency, the green transformation of computing carriers is progressing positively, and computing-power collaboration is moving from concept to practice. New models and new business forms such as computing networks, the word economy, and overseas expansion of computing power are becoming new growth engines. The report points out that in terms of the greening of computing equipment, my countrys computing equipment is accelerating its iterative upgrade towards higher energy efficiency. As of the end of June 2026, my countrys intelligent computing power will reach 2185 EFLOPS. New technologies such as liquid cooling, high-speed optical interconnects, and new storage architectures have become essential conditions for the construction of high-density intelligent computing centers, supporting the coordinated development of the computing power industry in terms of scale, performance, and energy efficiency.

As BoJ Udea Mentions the Appropriateness of Current Monetary Policy, EUR/JPY Exhibits a V-Shaped Movement

Daniel Rogers

Feb 24, 2023 14:30

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When Kazuo Ueda, the nominee for Governor of the Bank of Japan (BoJ), addresses the Japanese parliament, the EUR/JPY currency pair exhibits a V-shaped movement. The commentary of Haruhiko Kuroda's successor as Governor of the Bank of Japan has increased the volatility of the Japanese Yen.

 

As he describes the current monetary policy as appropriate and necessary to sustain 2% inflation, BoJ Ueda's speech appears more diplomatic. Moreover, he stated that rising import prices are the cause of Japan's rising inflation. Domestic demand is still insufficient, but the central bank is attempting to achieve pre-pandemic growth rates. The neighborhood has descended into lunacy as a result of his speech's absence of Yield conversion control (YCC) discussions.

 

Despite current discussions about the expansion of the YCC, the economic outlook for the Japanese Yen is positive, as the Bank of Japan is working to increase labor costs, which will confidently support a revival in overall demand.

 

Nordea economists continue to be optimistic about the Japanese Yen: "We remain fairly sanguine on JPY due to our expectations of a change in Bank of Japan monetary policy later this year." According to a note from Nordea, the time is ripe for a normalization of the Bank of Japan's stimulative monetary policy, "with inflation reaching its highest level in decades and a prognosis for higher wage growth."

 

Despite the easing of inflationary pressures, investors are concerned that the normalization of the Eurozone economy will take a significant amount of time. In order to maintain a ceiling on the price index, the European Central Bank (ECB) is anticipated to continue raising interest rates.


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