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12:09
Capital Economics: The Bank of England is more likely to delay rather than cancel interest rate cuts
Golden Ten Data reported on March 12 that Paul Dales from Capital Economics stated in a report that the Bank of England is more likely to delay rate cuts rather than cancel them altogether. The Middle East war has caused energy prices to soar and triggered concerns about high inflation, prompting investors to lower their expectations for rate cuts. LSEG data shows that the UK money market currently only prices in a 5% probability of a rate cut by the Bank of England at the March 19 policy meeting, compared to 83% before the outbreak of the Middle East war. Capital Economics expects the Bank of England to keep interest rates unchanged at 3.75% in the rate decisions in March, April, and June.
12:08
ING: Surging oil prices have already impacted household spending in the Eurozone
Golden Ten Data reported on March 12 that Carsten Brzeski and Franziska Biehl from ING Bank stated in a report that the surge in oil prices has begun to impact household spending at gas stations in the eurozone. Since the outbreak of the Iran war, the price of a tank of unleaded gasoline in Germany has increased by 13 euros. Even before this week's spike in oil prices, the cost of a standard tank in several major eurozone economies had returned to 2022 levels. Although this impact is not expected to last long, it may still put pressure on already weak consumer confidence. Analysts said: "Given the old saying 'oil prices rise like a rocket, fall like a feather,' not only confidence but also actual purchasing power is being affected."
12:07
SBF account speaks out: Gary Gensler not only "declared war" on the crypto industry, but also privately pushed to weaken CFTC authority
PANews reported on March 12 that the X account of FTX founder SBF posted that during his tenure, former SEC Chairman Gary Gensler not only "declared war" on the crypto industry, but also privately worked with Senator Elizabeth Warren in Washington to weaken CFTC authority and concentrate more regulatory power within the SEC. He restricted the compliance of crypto businesses by requiring "licenses that do not actually exist." SBF pointed out that the new SEC Chairman Paul Atkins, appointed by Trump, is more inclined to require only licenses that actually exist, avoiding the crypto industry being caught in the power struggle among U.S. federal regulatory agencies.
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