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On March 5th, an explanation regarding the draft Ecological and Environmental Code stated that the compilation of the Ecological and Environmental Code adopted a moderate codification model, handling the compilation work in three categories: First, all 10 existing laws, including the Environmental Protection Law, will be incorporated into the Ecological and Environmental Code after compilation and revision. These laws will no longer be retained after the codes promulgation. Second, existing laws and regulations concerning ecological elements such as river basins, regions, natural resources, biodiversity, ecosystems, circular economy, and energy conservation will be selected and incorporated into the Ecological and Environmental Code, reflecting their key principles. These laws will remain after the codes promulgation. Third, the code considers the legal needs related to climate change, carbon peaking and carbon neutrality, and green and low-carbon development, areas for which specific laws are currently lacking. The compilation of the Ecological and Environmental Code should include some principled and guiding provisions to establish principles, lay the foundation, and leave room for future development of related legal systems and practices in my country, reflecting the codes timeliness and forward-looking nature.March 5th - An explanation of the draft Ecological and Environmental Code shows that the draft consists of 5 parts and 1242 articles, with the parts being: General Provisions, Pollution Prevention and Control, Ecological Protection, Green and Low-Carbon Development, Legal Liability, and Supplementary Provisions. Part One, "General Provisions," stipulates the important legal principles and fundamental, comprehensive, and universal legal systems in the field of ecological and environmental protection, governing the other parts.Yaojie Ankang-B (02617.HK) surged over 20%, with a turnover exceeding HK$100 million.Li Hongzhong, Vice Chairman of the Standing Committee of the National Peoples Congress, gave an explanation of the draft ecological and environmental law.March 5th - One of Japans largest labor unions will demand higher wage increases from employers than last year. The Bank of Japan is closely monitoring wage trends to assess the situation ahead of its policy meeting later this month. According to statistics released on Thursday, 466 unions affiliated with UA Zensen are seeking an average wage increase of 6.46% for full-time employees. Last year, the organization demanded a 6.11% increase, with a final agreement reached at 4.75%. UA Zensen represents approximately 1.9 million members across industries including retail, food service, materials, and services. The organization plans to release its first batch of wage agreement statistics on March 19th. The Bank of Japan is closely monitoring the negotiations to see if strong wage growth will boost consumption, leading to signs of sustained demand-driven price increases, a key condition for its continued gradual normalization of policy through interest rate hikes.

The AUD/JPY exchange rate fluctuates below 90.00 as investors await BoJ action

Alina Haynes

Jan 18, 2023 15:03

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In the early Asian session, the AUD/JPY currency pair is bouncing violently in a narrow range below the resistance level of 90.00. Before the Bank of Japan introduces its first monetary policy of CY2023, the risk barometer indicates a sideways auction (BoJ). The AUD/JPY exchange rate reflects the consolidation of the AUD/USD, indicating an uncertain risk profile.

 

Investors anticipate that the Bank of Japan (BoJ) will not alter its policy stance on Friday, as doing so would increase financial market risk and hinder efforts to boost inflation. Previously, the Bank of Japan (BoJ) announced that the central bank will review the negative side effects of the decade-long ultra-loose monetary policy, generating the impression that the central bank is eager to abandon the easy policy.

 

The experts at Standard Charted expect the Bank of Japan to hold both the policy balance rate and the 10-year yield goal at their present levels of -0.1% and 0%, respectively. The recent decision to expand the 10-year JGB band to +/-50 bps (from +/-25 bps) will be evaluated by policymakers at the December meeting.

 

The replacement of current Governor of the Bank of Japan Haruhiko Kuroda will be widely followed. The next BoJ governor nominee is anticipated to be presented to the Japanese parliament on February 10, Reuters reported on Tuesday. Amamiya, Nakaso, and Yamaguchi are regarded as leading C.banking candidates.

 

Thursday is the expected publication date for Australian employment statistics, which investors are monitoring. The Unemployment Rate is expected to remain constant at 3.4%, according to the majority of economists. Aside from this, the Australian economy must have added 22,500 new jobs to the labor market in December, a down from the prior rises of 64K.

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