News

Tatiana Orlova, chief economist for emerging markets at Oxford Economics: The Bank of Russia is expected to cut key interest rates by 500 basis points, which will bring interest rates back to single digits. There's no point in calling an emergency policy meeting and informing markets unless they consider a big rate cut. Even a 700-800 basis point cut would not surprise me. (The current interest rate of the Bank of Russia is 14%)

Indian government data: India added 2,628 new confirmed cases of new coronary pneumonia in a single day, and 18 new deaths.

Bank of Korea Governor Lee Chang-yong: Korean and U.S. interest rates may reverse, but the Korean economy can overcome the impact.

According to Japan's Fuji News Network: Japanese Prime Minister Fumio Kishida will announce the reopening of tourists tonight.

Pakistani Prime Minister Imran Khan has said he will not accept a US-backed government.

Bank of Korea Governor Lee Chang-yong: One of the main reasons for the weaker won is the tightening of monetary policy in the United States.

[Market] EURGBP broke through 0.85, up 0.16% on the day.

Institutional analysis: Russia ready to take action to stop the ruble's excessive rebound

U.S. Deputy Secretary of State Sherman: Reaffirms commitment to the defense of South Korea and Japan.

Fitch: Australia's mortgage rates stabilized in Q1 on low unemployment.

USD/RMB reported 6.6766, up 216 points (RMB depreciation)

[British fuel prices hit record highs] Fuel prices have soared across the UK recently as the conflict in Ukraine continues. According to British media reports, on May 25, the average price of petrol in the UK exceeded 1.7 pounds (about 14.26 yuan) per liter, hitting a record high. Meanwhile, diesel prices also rose to a record high of £1.81 per litre. About 6% to 8% of the UK's crude oil comes from Russia. A 2020 automotive report estimated that 18% of diesel in the UK comes from Russia. (CCTV News)

On May 25, local time, Oklahoma's abortion ban was signed into law by Governor Kevin Stitt, making the state the first state in the United States to actually ban abortion. (CCTV News)

[Wang Yi Speaks on the Phone with Newly-appointed French Foreign Minister Colonna] On May 26, 2022, State Councilor and Foreign Minister Wang Yi held a telephone conversation with the newly-appointed French Foreign Minister, Ms. Colonna. The two sides exchanged views on China-EU relations. Wang Yi stressed that China firmly supports European integration, supports the French side in playing the role of the rotating presidency, and promotes Europe to enhance its strategic autonomy. The keynote of China-EU relations is friendship, cooperation is the mainstream, and China and the EU are partners rather than rivals. The two sides should conduct candid and in-depth communication on the premise of mutual respect and aim to enhance mutual understanding, and not engage in microphone diplomacy. Colonna said that the French side cherishes its independent diplomatic tradition and is committed to deepening EU-China cooperation and jointly addressing global challenges. (Ministry of Foreign Affairs)

[stock market opening] The Australian S&P/ASX200 index opened up 15.60 points, or 0.22%, to 7170.80 points at the opening on May 26 (Thursday).

Euro-Mediterranean Seismological Centre: 5.0 magnitude earthquake hit Tonga.

Institutional Survey: Economists surveyed expect Australian house prices to rise by 1.0% in 2022 and fall by 8.0% in 2023 (up 6.7% and down 5.0% respectively in the February survey).

Reserve Bank of New Zealand President Orr: Will pay close attention to inflation expectations.

Reserve Bank of New Zealand President Orr: Need to stabilize inflation expectations.

New Zealand Federal Reserve President Orr: I do not want inflation expectations to continue to rise, I hope to adjust interest rates rhythmically, and will continue to pay attention to the latest economic data.