Jin10 Data Organization: Daily Global forex Market News Quick Summary (May 12)

GoldenOctober2024 · 2025-05-12T12:04:00+00:00

1. Hungarian Central Bank Governor Valga: Prudent and patient monetary policy is needed, the fight against inflation is not over. 2. Money markets have reduced expectations of an interest rate cut by the ECB, expecting the deposit rate to end the year at 1.75%, compared to 1.67% on Friday. 3. Ukraine's euro cash reserves have increased substantially, and its share of euro-denominated international assets remains low, reaching 10 per cent at the beginning of May. 4. Polish Central Bank official Litwiniuk: Autumn may be a good time to push for a "prudent adjustment" in interest rates. The total change in interest rates this year could reach 125 basis points. 5. The joint statement of the Sino-US talks was announced, and the U.S. index refreshed its daily high to 101.93, a new high in a month; non-U.S. currencies were generally lower, with USD/JPY rising nearly 2% during the day, EUR/USD falling more than 1%, and GBP/USD falling nearly 1%. 6. ECB-Governing Council member Simkus: U.S. tariffs are dragging down eurozone economic growth and further interest rate cuts are needed; Executive Councilor Schnabel: Medium-term inflation risks may be on the upside. The ECB will remain steady, keeping interest rates around current levels. 7. Fed-Williams: Uncertainty will continue to be a defining feature of the monetary policy landscape; Bostic: In the face of increased uncertainty, it is not wise to adjust policy; Musalem: There should be no promise of rate cuts until the impact of tariffs on inflation becomes apparent. 8. Bank of England – Monetary Policy Commissioner Green: Wage and inflation measures are moving in the right direction, but still on the high side; Chief Economist Peele: The long-term upward pressure on inflation from wages should not be overlooked; The pace of interest rates may need to be adjusted; Deputy Governor Lombardelli: Policy is driven by the process of falling inflation in the UK.

GoldenOctober2024

2025-05-12 12:04:00

Hungarian Central Bank Governor Valga: Prudent and patient monetary policy is needed, the fight against inflation is not over. 2. Money markets have reduced expectations of an interest rate cut by the ECB, expecting the deposit rate to end the year at 1.75%, compared to 1.67% on Friday. 3. Ukraine's euro cash reserves have increased substantially, and its share of euro-denominated international assets remains low, reaching 10 per cent at the beginning of May. 4. Polish Central Bank official Litwiniuk: Autumn may be a good time to push for a "prudent adjustment" in interest rates. The total change in interest rates this year could reach 125 basis points. 5. The joint statement of the Sino-US talks was announced, and the U.S. index refreshed its daily high to 101.93, a new high in a month; non-U.S. currencies were generally lower, with USD/JPY rising nearly 2% during the day, EUR/USD falling more than 1%, and GBP/USD falling nearly 1%. 6. ECB-Governing Council member Simkus: U.S. tariffs are dragging down eurozone economic growth and further interest rate cuts are needed; Executive Councilor Schnabel: Medium-term inflation risks may be on the upside. The ECB will remain steady, keeping interest rates around current levels. 7. Fed-Williams: Uncertainty will continue to be a defining feature of the monetary policy landscape; Bostic: In the face of increased uncertainty, it is not wise to adjust policy; Musalem: There should be no promise of rate cuts until the impact of tariffs on inflation becomes apparent. 8. Bank of England – Monetary Policy Commissioner Green: Wage and inflation measures are moving in the right direction, but still on the high side; Chief Economist Peele: The long-term upward pressure on inflation from wages should not be overlooked; The pace of interest rates may need to be adjusted; Deputy Governor Lombardelli: Policy is driven by the process of falling inflation in the UK.

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