MPC members unanimously decided to maintain interest rates at 0.1% and all monetary policies unchanged
After the Bank of England’s interest rate meeting, members of the Monetary Policy Committee (MPC) decided unanimously to maintain interest rates at 0.1% and all monetary policies unchanged, in line with market expectations. The statement after the meeting pointed out that the local economic recovery is faster and earlier than the forecast in May, and that the current policy stance is appropriate. In the future, the central bank will have other tools available, including asset purchases and forward-looking guidance. If the situation worsens, the central bank will be prepared to accelerate the pace of purchasing treasury bonds.
Chinese and American officials will hold a video conference next Saturday to discuss the first trade agreement
According to data from the US Department of Agriculture, in the first half of this year, US exports of agricultural products and related products to the mainland totaled US$7.27 billion, accounting for only 20% of the total purchase target of the first phase of the Sino-US trade agreement this year. However, because soybeans are more resistant to floods and waterproofing than sandbags, they help fight the flood in the southern basin. Therefore, in order to fill the gap, the market estimates that there is still a huge demand for soybeans in the Mainland in the second half of the year. Earlier, the Wall Street Journal cited news that Chinese and American officials will hold a video conference next Saturday (15th) to evaluate the implementation of the first trade agreement, and the market is concerned about whether the agreement between the two parties can be maintained.
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