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On February 24, Wang Chuang, Director of the Second Civil Division of the Supreme Peoples Court, stated at a press conference that in 2026, the civil and commercial trial departments of courts nationwide will continue to fully leverage their judicial functions. The next step will be to expedite the issuance of supporting judicial interpretations for the new Company Law and strengthen judicial research and trial guidance for various market entity disputes.Japanese Economy, Trade and Industry Minister Ryomasa Akazawa: If the United States imposes a new 10% tariff, Japan may face additional tariff costs on some goods that exceed the previously agreed 15% rate.February 24th - The Russia-Ukraine conflict has entered its fifth year, and the trilateral peace talks between Ukraine, Russia, and the United States have yet to achieve a breakthrough. Zelenskyy stated that security guarantees remain a thorny issue. Zelenskyy said he has been repeatedly told that Russia will never launch another conflict. "I cannot accept this answer. Im sorry," he said. "These security guarantees certainly have their merits," he said, referring to the commitments currently on the table, "but I want a very concrete answer: if Putin attacks again, what actions are our partners prepared to take? Thats what the Ukrainian people want to hear." Addressing another thorny issue, Zelenskyy stated that Ukraine is willing to freeze the conflict at the current front. However, he also indicated that Ukrainian troops will not withdraw from the eastern Donetsk region, which they still control. "Russia just wants us to withdraw... We cant be that stupid. We are not children. We have gone through so many years of conflict; we cannot simply hand over our country to them," he said.February 24th - For Japanese entities listed on the export control list, the measures announced in this notice will apply. For Japanese entities not listed, if they are involved in Japanese military use, military applications, or other end-user applications that could enhance Japans military capabilities, the export of dual-use items to Japan will be prohibited in accordance with the "Announcement on Strengthening Export Controls on Dual-Use Items to Japan." These measures aim to curb Japans "remilitarization" and nuclear ambitions, and are entirely legitimate, reasonable, and legal. Chinas lawful listing targets only a small number of Japanese entities, and the measures only apply to dual-use items. They will not affect normal Sino-Japanese economic and trade exchanges, and honest and law-abiding Japanese entities have absolutely nothing to worry about.Japanese Finance Minister Satsuki Katayama: We have always maintained close dialogue with the United States.

The EUR/GBP is fluctuating close to 0.8750 as focus shifts to UK inflation and BoE policy

Alina Haynes

Mar 20, 2023 13:22

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The EUR/GBP pair is exhibiting a lackluster performance around 0.8750 during the Asian session. As investors prepare for the release of the Bank of England's (BOE) interest rate decision and the United Kingdom's Consumer Price Index (CPI) this week, the cross has moved sideways.

 

Despite the fact that the headline asserts that UBS has revitalized Credit Suisse, the cross appears to be weak. Credit Suisse shareholders will receive one share of UBS for every 22.48 Credit Suisse shares they own, valuing the bank at $3.15 billion (£2.6 billion), according to BBC News. The Swiss National Bank (SNB) stated that the agreement was the most effective means of restoring market confidence and mitigating economic risks. Additionally, the BoE endorsed the "comprehensive set of actions."

 

The consensus opinion on the street is that Governor Andrew Bailey of the Bank of England (BoE) will provide a pessimistic outlook for the interest rate decision amidst concerns of banking turmoil, which will be his top priority.

 

Rabobank analysts also anticipate a 25 basis point (bps) rate hike and caution that the market has not fully factored in this scenario. Andrew Bailey, governor of the Bank of England, would raise rates by 25 basis points to 4.25 percent.

 

Prior to that, the UK inflation data released on Wednesday will be attentively monitored. The annual headline CPI is expected to decline from 10.1% to 9.8%, according to projections. At 5.8%, the core CPI, which excludes the cost of fuels and food, would not change. It should be aware that persistent inflation in the United Kingdom is due to rising food prices and a labor shortage.

 

After the European Central Bank (ECB) raised interest rates by 50 basis points (bps) last week, Gediminas imkus, a member of the ECB Governing Council, stated on Friday that "the terminal rate has not yet been reached" For further deflation, extremely persistent inflation in the Eurozone requires higher interest rates.


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