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On January 27th, European Central Bank (ECB) Governing Council member Kocher stated that given the unstable global situation, particularly regarding trade, the ECB needs to retain all feasible options regarding interest rates. While officials believe they are currently in a "good position," they still face "very high" uncertainty. He emphasized the importance of having sufficient options in both directions. Monetary policy must be able to respond quickly and decisively to any emerging risks. Kocher expressed a desire to be able to react swiftly to any unforeseen circumstances. "We saw this last week when there was an additional threat of tariffs. So we must be cautious. This could have some consequences and could also impact European economic development."SMIC: The company will disclose its fourth quarter 2025 results after the trading session on February 10, 2026.January 27th - Nick Timiraos, the "Federal Reserve mouthpiece," reports that Federal Reserve officials are expected to keep interest rates unchanged this week for the first time since three consecutive rate cuts in September. The question is, what would prompt the Fed to cut rates again? The answer depends on which risk materializes first: a collapse in the labor market, or a significant drop in inflation towards the 2% target. Neither has occurred since the last meeting in December. As a result, the committee remains on the sidelines despite significant political pressure from the White House. Most officials still believe a rate cut is possible later this year, but there is disagreement on when data will support it.January 27th - With only six months remaining until July 1st, 2026, the implementation of Article 75 of the National Medical Products Administrations "Special Provisions on the Registration Management of Traditional Chinese Medicines" is entering its final window. This provision, known in the industry as the "life-or-death clause" for traditional Chinese medicines, clearly states that after three years from July 1st, 2023, any traditional Chinese medicine whose instructions still indicate "not yet clear" will not be approved for re-registration. This means that over 70% of the approximately 57,000 valid approval numbers for traditional Chinese medicines currently in use in China, due to safety information labeling issues, will face elimination. A regulatory-driven, in-depth cleanup of the traditional Chinese medicine industry has officially entered its crucial stage. The core of this new regulatory policy is to completely end the long-standing era of "not yet clear" instructions for traditional Chinese medicines, forcing drug holders to address the shortcomings in post-market safety data.The UK Financial Conduct Authority (FCA) will develop a series of recommendations based on feedback from the AI review, which will be submitted to the FCA committee in the summer of 2026.

High Mortgage Rates Force First-time Buyers to Rent, According to Rightmove

Aria Thomas

Nov 25, 2022 14:27

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The property website Rightmove (OTC:RTMVY) said on Friday that the demand for rental homes in the United Kingdom surged in October as prospective first-time buyers postponed their purchases owing to rising mortgage rates.


However, the total number of renters and purchasers on the market declined by 1% compared to the same period previous year.


In recent months, mortgage rates in the United Kingdom have risen beyond 6%, increasing after the "mini-budget" of former prime minister Liz Truss on September 23 rattled financial markets.


Since then, rates have fallen due to Jeremy Hunt's Autumn Statement, which guaranteed stamp duty reductions through March 31, 2025.


According to Britain's largest property marketplace, first-time buyers have been significantly impacted by the hike, prompting them to consider renting in the near future while they await the inevitable stability of mortgage rates.


Tim Bannister, a property expert at Rightmove, commented, "It is very understandable why some buyers, especially first-time buyers, are waiting for better financial stability."


Now that there are indicators that mortgage rates are stabilizing, it is probable that they will settle at a higher level than buyers in the past have experienced.


42% of prospective first-time buyers who intend to enter the property market over the next several years have already amassed their entire down payment while awaiting a reduction in interest rates. 43% more were engaged in savings.


Tenants are already facing a large increase in expenses owing to the rising costs of electricity, fuel, food, and council tax, which are reflected in the statistics.


As a result of the highest rate of inflation in 41 years, real wages are decreasing, placing incomes under the most severe pressure in decades.

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