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CNY/AUD News
China's New Forex Rules Require Banks to Tighten Scrutiny on Cryptocurrency Trades
Announcement during trading! The central bank has carried out a second swap facility operation, and experts say the intention to boost the Capital Markets is obvious.
On October 18 this year, the central bank conducted the first SFISF operation, and by the end of the year, this quota had been nearly exhausted. The central bank's second operation will add several securities, Fund companies, and five major Insurance Institutions, with an operation volume of at least 50 billion yuan. The central bank announced this news during trading today, clearly indicating an intention to boost the Capital Markets and promote their development.
China Manufacturing Activity Expands for Third Consecutive Month in December- PMI
National Bureau of Statistics interpretation: In December, the manufacturing Purchasing Managers' Index has been in the expansion Range for three consecutive months, and the non-manufacturing Business Activity Index has significantly rebounded.
On December 31, the National Bureau of Statistics Service Industry Survey Center and China Logistics and Purchasing Federation released the China Purchasing Managers' Index. In this regard, Zhao Qinghe, a senior statistician at the National Bureau of Statistics Service Industry Survey Center, provided an interpretation.
National Statistics: December PMI is 50.1%, continuing to maintain expansion.
In December, the Manufacturing Purchasing Managers' Index (PMI) was 50.1%, a decrease of 0.2 percentage points from the previous month, indicating that the manufacturing sector continues to expand; The Manufacturing PMI has remained in the expansion Range for three consecutive months, while the Non-Manufacturing Business Activity Index has significantly rebounded.
PBOC Governor Pan: Room for Lower Rate
Australia IT Hardware Market Projected to Surge to USD 4.35 Billion by 2029, Advancing at a CAGR of 8.10% - Technology Advancements Spearheading Market Expansion
Rising State Debt Threatens Australia's AAA Credit Rating Amid Mounting Deficits
Who will implement the reserve requirement ratio cut and interest rate cut first as expectations rise to the maximum? Industry predictions suggest that the likelihood of a reserve requirement ratio cut by the end of the year is relatively high, while an i
① Currently, it has entered the observation period for policy effects, and the signals for reserve requirement ratio and interest rate cuts are unclear. The probability of an interest rate cut this week is low, but the likelihood of a reserve requirement cut before the end of the year is higher, and the interest rate cut may have to wait until 2025 for a suitable opportunity; ② A domestic interest rate cut may further increase short-term Exchange Rates pressure, and the probability of a short-term reserve requirement cut is greater than that of an interest rate cut. Recently, the Renminbi's exchange rate against the US dollar has declined, reflecting more of a passive depreciation nature.
RBA Still Likely to Tread Cautiously Despite Dovish Tone -- Market Talk
The meeting minutes show that the Reserve Bank of Australia is more confident in controlling inflation and expects to lower interest rates for the first time in February.
The minutes of the meeting in December show that the Reserve Bank of Australia is more confident about inflation moving towards its target level. However, given the recent recovery in Consumer and the still tight labor market, it is still too early to conclude victory. The minutes released on Tuesday (December 24) from the meeting on December 9 to 10 indicate that the RBA Board discussed the possibility of easing policies to boost economic growth or maintaining current restrictive levels. The board believes that both outcomes are possible and has chosen to keep the interest rate unchanged at 4.35%, stating that recent data is insufficient to alter the policy outlook. Figure: Central Bank benchmark interest rate (Reserve Bank of Australia in the context of Global easing policies.
Reserve Bank of Australia Says Underlying Inflation Still 'Too High'
RBA Is More Confident on CPI, But Too Early to Declare Victory
RBA Minutes Reveal Dovish Shift, Confidence Growing Inflation Is Easing
The central bank today net withdrew 643.5 billion yuan from the open market, and the year-end funding situation will remain relatively loose.
1. It is believed in the industry that the central bank is currently inclined to "protect but not excessively loosen" the monetary policy, focusing on whether to initiate a Reserve Requirement Ratio (RRR) cut before and after the MLF renewal. 2. The central bank will strive to maintain reasonable and ample market liquidity, and the volatility of the funding situation at the end of the year will be significantly lower than in previous years.
Australia's Consumer Inflation Expectations Rise to 4.2% in December
ANZ Research Trims 2024 GDP Growth Forecast for Australia to 1.1%
Australian Westpac Leading Index Points to Modest Growth
Insurance Australia Group Limited Analysis and Elliott Wave Forecast [Video]
Australia expects the budget deficit to widen before the 2025 election, with the first interest rate cut possibly occurring in April or May next year.
The mid-year fiscal update shows that due to increased government spending, Australia's budget is expected to further fall into deficit over the next few years, with the Australian election taking place in less than six months. According to the mid-year economic and fiscal outlook released on Wednesday, although the budget deficit for the current fiscal year is expected to slightly narrow to 26.9 billion Australian Dollar (17.1 billion USD), it will widen to 46.9 billion Australian Dollar by 2025-26, accounting for 1.6% of GDP, and remain at or above 1% of GDP. The Treasury also slightly lowered the forecasts for this fiscal year and the next fiscal year due to rising interest rates restraining private sector activity.