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AirAsia Group co-founder Tony Fernandez: The company will make a “quite exciting announcement” with Airbus next month, covering growth and strategy.On September 18th, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan." Zhang Qiang, Director of the Urban Management Supervision Bureau of the Ministry of Housing and Urban-Rural Development, stated at the conference that high-quality urban renewal cannot be achieved without policy and mechanism guarantees. We will focus on establishing and improving four mechanisms: First, an integrated mechanism for urban health checks and urban renewal, focusing on the problems identified during the health checks. Second, an urban renewal planning and implementation mechanism, establishing an implementation system from special planning to area planning and project implementation. Third, a sustainable urban renewal investment and financing mechanism, increasing government investment while better leveraging market forces. Fourth, a mechanism for the organic integration of urban renewal and historical and cultural preservation, ensuring that historical culture and modern life complement each other. Simultaneously, we will accelerate the legislation on urban renewal and improve the standards system to solidify the institutional support for high-quality urban renewal.On September 18th, EFG International economist Sam Jochim stated in a commentary that with underlying inflation approaching 2%, the Bank of Japan (BOJ) is expected to raise interest rates approximately every three months. He believes the next rate adjustment will be a hike, and the tightening cycle will continue until interest rates reach what the BOJ considers a neutral level. He pointed out that the BOJ estimates the neutral level corresponds to a final policy rate of approximately 1.75% to 2.00%, a level that could be reached in 2027. However, the economist warned that any signs of slowing economic growth could hinder the pace of rate hikes.According to the latest data from the General Administration of Customs, in August 2026, China exported 6 million tons of steel plates, a year-on-year increase of 6.6%; cumulative exports from January to August reached 44.26 million tons, a year-on-year decrease of 7.9%. In August, China exported 1.93 million tons of steel bars, a year-on-year increase of 18.1%; cumulative exports from January to August reached 13.86 million tons, a year-on-year increase of 13.1%.On September 18th, it was learned from the National Bureau of Data Science that the China-ASEAN Data Cooperation Professional Committee of the World Data Organization (WDC) was established on September 17th in Nanning, Guangxi. The WDC, headquartered in Beijing, is the worlds first professional international organization dedicated to promoting data development and governance practices. Its newly established China-ASEAN Data Cooperation Professional Committee focuses on cross-border data flows, inclusive intelligent computing power, joint development of rules and standards, member ecosystem building, and industrial cluster development within ASEAN, aiming to bridge the data gap, unlock the value of data, and promote the prosperity of the digital economy. The National Bureau of Data Science stated that it will actively participate in global data governance and support the WDC in fully leveraging the professional advantages of its members in global regions and industries to pragmatically promote international data cooperation in specific sectors.

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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