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August 19th - According to the Financial Times, sources familiar with the matter said that Iran is considering including military targets in Europe in its strike range should Trump escalate the war. The sources indicated that the Iranian military has assessed the possibility of striking US military assets in Bulgaria and other southeastern European countries. The Iranian military has also assessed the option of severing undersea fiber optic cables in the Strait of Hormuz in the event of an escalation.On August 19th, the National Healthcare Security Administration interpreted the "15th Five-Year Plan for Universal Medical Security." The plan proposes to steadily advance the national centralized procurement of medicines and high-value medical consumables, while guiding local governments to establish procurement alliances with "one province leading and nationwide participation." It aims to continuously deepen cooperation in areas such as traditional Chinese medicine, biopharmaceuticals, and medical consumables, gradually including medicines and medical consumables with high clinical usage and inflated prices into the procurement scope to reduce the financial burden on the public. In accordance with the requirements of the Party Central Committee and the State Council, the plan adheres to the principles of "stabilizing clinical use, ensuring quality, combating involution, and preventing bid-rigging," optimizing and improving procurement rules, further enhancing the matching degree between centralized procurement products and clinical needs, colluding with drug regulatory authorities to ensure the quality of selected products, guiding fair and rational competition in the industry, and resolutely cracking down on bid-rigging and collusion in the pharmaceutical centralized procurement field.On August 19th, the National Healthcare Security Administration interpreted the "15th Five-Year Plan for Universal Medical Security." The plan emphasizes vigorously promoting the development of commercial medical insurance. It actively supports and guides the complementary and differentiated development of commercial medical insurance with basic medical insurance, focusing on the diverse needs of the public. It supports commercial insurance companies in enriching their product offerings, with a focus on developing commercial insurance products that primarily cover areas outside the basic medical insurance catalog, offer high levels of coverage, and support pharmaceutical innovation. The aim is to meet the unmet needs of the public beyond basic medical insurance and promote the better supplementary role of commercial medical insurance in the multi-tiered medical security system.On August 19th, the National Healthcare Security Administration interpreted the "15th Five-Year Plan for Universal Medical Security." It proposed upholding the fundamental role of the basic medical insurance three-tiered system within the multi-tiered medical security system. The plan includes improving the basic medical insurance system, refining the financing mechanism for urban and rural residents basic medical insurance, exploring diverse funding channels, and promoting the standardized implementation of employee basic medical insurance contribution base policies in all provinces. It emphasizes adhering to the principle of "ensuring basic needs" in basic medical insurance, implementing the medical security benefits list system, and promoting the standardization and unification of the basic medical insurance system. It also aims to consolidate the outpatient and inpatient benefits levels of employee basic medical insurance and urban and rural residents basic medical insurance, with reimbursement policies tilted towards grassroots levels. Finally, it aims to improve the funds risk resistance capacity and utilization efficiency, achieving basic provincial-level pooling by 2029.On August 19th, the National Healthcare Security Administration interpreted the "15th Five-Year Plan for Universal Medical Security." It proposed that the basic medical insurance enrollment rate, the fund payment ratio for inpatient expenses within the basic medical insurance catalog, and the proportion of drugs and high-value medical consumables procured by public medical institutions through provincial platforms will continue to be included in the development goals for the 15th Five-Year Plan period to ensure the continuity of the plans implementation. Simultaneously, in conjunction with the reform and development tasks and the requirements for sustainable fund development during the 15th Five-Year Plan period, the number of regions covered by the long-term care insurance system and the number of months that the accumulated surplus of the basic medical insurance fund for employees and residents can cover will be included in the development indicators for the 15th Five-Year Plan period.

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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