Overnight, we also had the January Australian CPI inflation report, which will not be a pleasant read for policymakers at the RBA. Despite the AUD standing as one of the most overstretched currencies to the upside right now, the report triggered a strong move higher versus G10 peers this morning.Headline YY CPI data rose by 3.8%, matching December’s reading and above the 3.7% median estimate, while MM data increased by 0.4%, below the 1.0% in the prior print but above consensus. The RBA’s preferred measure ...

Key TakeawaysRBA Governor Michele Bullock emphasized the need for "patience" in assessing monetary policy after raising the cash rate to 3.85% to combat persistent inflation.The USD/JPY pair surged 0.32% to reach a fresh two-week peak of 156.45, reflecting continued divergence in global interest rate expectations.German Chancellor Friedrich Merz arrived in Beijing for high-stakes talks with President Xi Jinping, focusing on trade relations and the impact of new US tariffs.Russian authorities imposed a new f ...

Volta Finance Limited (VTA / VTAS)January 2026 monthly reportNOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, IN WHOLE OR PART, IN OR INTO THE UNITED STATES Guernsey, February 24th 2026 BNPP AM has published the Volta Finance Limited (the “Company” or “Volta Finance” or “Volta”) monthly report for January 2026. The full report is attached to this release and will be available on Volta’s website shortly (www.voltafinance.com). Performance and Portfolio Activity Dear Investors, Volta Finance posted a net return ...

Coming out of the last two years, the focus seemed to be on the unemployment rate, on the labor market, and cutting rates to get ahead of a problem with the labor market. But listening to you this morning, it sounds like you're more concerned about inflation, that inflation may have become the primary risk. Yeah, I would say that in my head in 23 and 24, since I've been on the Fed, inflation's been and that has never gone away as as a central focus.When the labor market is deteriorating, it comes back in a ...

新华财经北京2月24日电人民银行24日开展5260亿元7天期逆回购操作；鉴于当日有8524亿元7天期逆回 购和6000亿元14天期逆回购到期，公开市场实现净回笼9264亿元。 春节前一周（2月9日-2月14日）央行通过7天与14天逆回购累计净投放1.25万亿元短期跨节资金。与此 同时，13日央行超额续作5000亿元6M买断式逆回购，加上月初净投放1000亿元3M买断式逆回购，2月 累计释放中长期资金0.6万亿元，叠加1月大额投放的1.1万亿元，或有效填补了春节资金缺口，为资金面 平稳跨节提供支撑。 尽管面对农历新年和超7000亿元政府债净缴款，叠加节前取现需求上升，资金利率仅短暂出现波澜，随 后快速平息。跨春节资金压力相对可控，隔夜利率R001最高升至1.46%，R007区间高点始终未突破 1.60%，分别比OMO利率高出6BP、20BP。 在业内人士看来，随着跨节扰动消退，节后资金面通常自发式转松，且7天资金价格降幅或更为显著。 具体而言，受春节假期影响，2月税期顺延至24日（节后首日），25、26日走款，与跨月周重叠，或放 大月末资金波动。不过2月并非缴税大月，税期对资金面影响小于1月。 不过，节后政府债 ...

Core Insights - The evolution of AI technology is ongoing, and its impact on productivity growth and the economy remains uncertain, necessitating careful monitoring of early indicators in data and business practices [1][4][20] - Historical parallels are drawn between AI and past technological transformations, such as electrification, emphasizing that significant changes take time and require a shift in business practices [5][10][11] Group 1: AI Adoption and Business Impact - AI adoption is gaining momentum, with businesses across various sectors leveraging AI for tasks such as consumer research, back-office operations, and product development, leading to time and cost savings [17][18] - Despite the excitement surrounding AI, macro-studies indicate limited evidence of significant productivity gains attributed to AI, suggesting that while firms find AI useful, transformative impacts are yet to be realized [19][21] - The financial sector is utilizing AI in processes like loan applications, which improves efficiency but does not fundamentally transform the overall process, indicating that current applications may not lead to broad-based economic reorganization [21][22] Group 2: Historical Context and Lessons for Monetary Policy - Historical context from the 1990s technology boom illustrates that early investments in technology do not immediately reflect in productivity data, highlighting the importance of understanding disaggregated information [24][28] - Policymakers must remain patient and attentive to business insights, as these can provide early indicators of potential economic transformation, rather than relying solely on aggregate data [28][30] - The lessons from past technological revolutions suggest that the right ideas and innovative thinking are crucial for AI to become a transformative force in the economy, similar to the role of electricity in the past [22][30]

2026年1月金融数据整体符合并略超市场预期，呈现总量稳健、结构优化、资金活跃度提升的特征，主 要受适度宽松货币政策发力、年初信贷集中投放、财政支出靠前发力及春节错位因素带动。 据人民银行，2月13日，人民银行发布的统计数据显示，2026年1月份社会融资规模增量为7.22万亿元， 比上年同期多1662亿元。2026年1月末社会融资规模存量为449.11万亿元，同比增长8.2%。M2-M1剪刀 差为4.1个百分点，较2025年12月进一步收窄。 信贷方面，1月人民币贷款增加4.71万亿元，企业中长期贷款增加3.18万亿元，占比显著提升，显示实体 融资需求回暖，政策支持下制造业、基建等领域信贷投放力度加大，住户贷款平稳增长，居民消费与购 房需求逐步修复。 社融方面，增量7.22万亿元创同期新高，同比多增1662亿元，主要由政府债券、企业债券及未贴现票据 共同支撑，社融存量增速8.2%，宽信用政策效果持续显现，对实体经济支持力度稳定。 具体到A股市场，1月金融数据有助于提振市场风险偏好，相对利好金融、周期、成长等多个方向。银 行、券商板块受益于信贷回暖与息差企稳；基建、制造、科技成长板块受益于流动性充裕与企业盈利预 ...

The Dow Jones Industrial Average (^DJI) was down 798.40 (-1.61%) points today, currently sitting at 48,827.57. Similarly, Dow Futures (YM=F) was down 742.00 (-1.49%) points. The primary narrative driving this sharp decline was a significant "risk-off" rotation triggered by renewed concerns over stubborn inflation data and a potential hawkish shift in monetary policy. This sentiment disproportionately affected the financial and technology sectors, as investors moved capital away from growth-oriented and cred ...

The Dow Jones Industrial Average (^DJI) was down 715.91 (-1.44%) points today, reaching 48,910.06, while Dow Futures (YM=F) was down 740.00 (-1.49%) points. The primary narrative driving the market lower is a sharp retreat in the financial and technology sectors, sparked by a hawkish shift in monetary policy expectations and rising concerns over consumer credit health. Investors are rotating out of cyclical names in favor of defensive havens as economic uncertainty regarding interest rate trajectories for t ...

With Bitcoin’s price down the pan, investors are now waiting to see what Federal Reserve Chair nominee Kevin Warsh will do to markets if he takes the helm in June. Despite praising Bitcoin and calling for lower interest rates last year, markets initially priced in Warsh as a hawk — someone who would keep interest rates high in an aggressive bid to tamp down inflation. But it’s what Warsh might do with the Fed’s balance sheet that concerns investors. Since the Great Recession, the Fed has purchased trill ...