The Federal Reserve voted Wednesday to hold its benchmark interest rate in the range of 3.5% to 3.75%, following three straight rate cuts last fall. Fed Governors Chris Waller and Stephen Miran disagreed with the decision, preferring to cut rates by a quarter percentage point. Before the meeting, Waller — one of President Trump's finalists to be the next Fed chair — cited ongoing concerns about the health of the job market. Central bank officials upgraded their assessment of the economy to “solid” from ...

U.S. Federal Reserve Chair Jerome Powell holds a press conference after the Fed cut interest rates by quarter of a percentage point, in Washington, D.C., U.S., October 29, 2025."Overall, the Fed just wants to stand pat. They feel they've got time to wait and see," former Fed Vice Chair Roger Ferguson said in a CNBC interview Monday. "This feels like a wait-and-see meeting, and we should all be listening to see if there's any hint or a bias towards a future action."Despite a recent spate of disagreements amo ...

Group 1 - The race for the next Federal Reserve chair is nearing its conclusion, with Treasury Secretary Scott Bessant indicating that President Trump may announce his choice soon, and BlackRock's Rick Reer has seen a rise in his odds of being selected [1][2] - Candidates for the position include former Fed Governor Kevin Worsh, current Fed Governor Christopher Waller, and National Economic Council Director Kevin Hasset, with Waller facing a critical decision at the upcoming FOMC meeting [2][3] - Waller's vote at the FOMC meeting is crucial; he can either align with President Trump's preference for lower rates or maintain his independence by voting to hold rates steady, which could impact his candidacy [4][6] Group 2 - The President seeks a candidate who is loyal and aligns with his views, expressing concerns about appointing someone who may not adhere to his preferences once in office [8][9] - The candidates with closer ties to Trump, Worsh and Hasset, are seen as more favorable due to their established relationships, while Waller and Reer are viewed as outsiders [9][10] - Recent economic data, such as durable goods orders, shows positive trends, but the Fed's willingness to cut rates again will depend on inflation progress or significant labor market concerns [11][12][14] Group 3 - The upcoming FOMC meeting will be significant, as it will be the first time Chair Jay Powell addresses reporters since a criminal investigation was initiated against the Fed, adding political drama to the proceedings [16][18] - The President is cautious about making a choice he may regret, as he has expressed dissatisfaction with his previous selection of Powell, indicating a desire for a trustworthy candidate [19][20] - The announcement regarding the interest rate decision is scheduled for 2 p.m. Eastern, with extensive coverage expected [21]

By design, the group of officials voting on interest rates is going to look a lot different this year.Fed policymakers have a direct line to your wallet . Their decisions help shape everything from mortgage rates and home equity lines of credit (HELOCs), to personal loans, credit card rates and car loans. They’re also the reason savers have enjoyed historic returns on savings accounts and certificates of deposit (CDs) for four years. Here’s an inside look at all of the shifting forces that could alter how m ...

祥源文旅公告称，全资子公司祥源堃鹏拟为全资孙公司金秀莲花山向农业银行瑶族支行的债权提供4.59 亿元最高额连带责任保证担保，无反担保。2026年1月26日公司董事会已通过该议案，尚需股东会审 议。同时，金秀莲花山与银行协商下调4笔存量固定资产借款利率，以3.5%的5年期LPR为基准，点 差-40bp，预计2026年可降息479.03万元，剩余期限累计降息约2840.16万元。截至公告日，公司及子公 司对外担保总额12.04亿元，占最近一期经审计净资产的42.80%，无逾期担保。 ...

Core Viewpoint - The Bank of Japan is expected to maintain its interest rates today while signaling cautious optimism about a moderate economic recovery, which supports the rationale for potential future rate hikes [1] Group 1: Monetary Policy - The Bank of Japan is likely to keep interest rates unchanged, reflecting a careful approach amid economic conditions [1] - The central bank's head, Kazuo Ueda, may not provide clear guidance on the timing of the next rate hike due to political uncertainties [1] Group 2: Economic Outlook - There is a belief that the Japanese economy will continue to experience moderate recovery, which could justify future increases in borrowing costs [1] - The potential for increased government spending under Prime Minister Fumio Kishida's administration adds complexity to the monetary policy landscape [1] Group 3: Market Reactions - The Bank of Japan faces a delicate situation where it needs to use hawkish rhetoric to curb short positions on the yen while avoiding further increases in bond yields due to expectations of government spending [1]

Market Overview - The main copper futures contract on the Shanghai Futures Exchange opened at 101,020 CNY/ton and closed at 101,280 CNY/ton, a slight increase of 0.05% from the previous trading day [2] - The night session saw the main copper contract open at 100,550 CNY/ton and close at 100,260 CNY/ton, remaining stable compared to the afternoon close [2] Spot Market - SMM reported that the spot price for 1 electrolytic copper was quoted at a discount of 280 to 80 CNY/ton against the current month contract, with an average discount of 180 CNY/ton, down 30 CNY/ton from the previous day [3] - The price range for electrolytic copper was between 99,820 and 100,300 CNY/ton, with the market showing a clear differentiation in supply [3][15] - Downstream purchasing showed structural characteristics, with leading enterprises actively accepting deliveries, particularly when copper prices fell below 99,500 CNY/ton [15] Important News - The geopolitical situation regarding Greenland has improved, with U.S. President Trump announcing an agreement framework with NATO Secretary General Stoltenberg, which could benefit the U.S. and NATO members [4] - Economic forecasts indicate that most economists expect the Federal Reserve to maintain the benchmark interest rate unchanged this quarter, with potential rate cuts anticipated later in the year [4][5] Mining Sector - Rio Tinto reported a copper production of 240,000 tons in Q4 2025, a 5% increase year-on-year, and a total production of 883,000 tons for the year, exceeding the revised guidance [5][17] - The Democratic Republic of the Congo is opening its doors to U.S. capital for strategic mineral projects, including copper and cobalt, as part of a new investment initiative [5][17] Smelting and Imports - The London Metal Exchange (LME) reported a significant premium for spot copper prices compared to future contracts, with the "tom/next" spread reaching its highest level since the 2021 supply squeeze [6][18] - The copper market is experiencing a new round of volatility, with recent prices exceeding 13,400 USD/ton [6][18] Inventory and Warehouse Data - LME warehouse stocks decreased by 8,875 tons to 159,400 tons, while SHFE stocks fell by 2,612 tons to 145,581 tons [7][19] - As of January 21, domestic electrolytic copper stocks were at 329,400 tons, a decrease of 850 tons from the previous week [19] Strategy - The outlook for copper is neutral, with recent tariffs on semiconductors affecting demand projections for non-ferrous metals [20] - Current copper prices are expected to remain in a range between 99,500 CNY/ton and 110,000 CNY/ton due to high prices and low downstream demand [20]

Group 1 - The total silver futures warehouse receipts amount to 600,779 kilograms, with a decrease of 17,803 kilograms compared to the previous day [1][2] - The main silver futures contract opened at 23,660 yuan per kilogram, reached a high of 23,690 yuan, a low of 22,638 yuan, and closed at 23,131 yuan, down 0.11% [1] Group 2 - In Shanghai, the total warehouse receipts decreased by 13,590 kilograms, with specific reductions from 中工美供应链 (11,570 kg) and 中储吴淞 (2,020 kg) [2] - In Guangdong, the Shenzhen 威豹 warehouse saw a decrease of 4,213 kilograms [2]

Economic Growth Indicators - Recent economic data indicates strong growth in the U.S. economy, with increases in real income, retail sales, and home purchases despite some adverse factors [1][3] - The U.S. Bureau of Labor Statistics reported a 1.42% increase in average weekly earnings adjusted for inflation from January to December 2025 [1] - Retail spending in November rose by 3.3% year-over-year and 0.6% month-over-month, slightly exceeding economists' expectations [1] Housing Market Dynamics - The National Association of Realtors (NAR) reported a 5.1% increase in existing home sales in December, attributed to declining mortgage rates [1][6] - The average rate for a 30-year fixed mortgage was 6.19% in December, down from 6.24% in November and 6.72% a year earlier [2] - NAR's chief economist noted that while 2025 will be challenging for homebuyers due to high prices and low sales volume, the housing market conditions began to improve in Q4 as mortgage rates decreased and price growth slowed [2] Inflation Trends - Inflation remains a concern, with the consumer price index (CPI) showing a 0.3% month-over-month increase in December and a 2.7% year-over-year increase [2] - The core CPI, excluding volatile food and energy prices, rose by 0.2% in December and 2.6% year-over-year [4] - Despite the recent economic growth, inflation rates are still significantly above the Federal Reserve's long-term target of 2%, complicating the central bank's dual mandate of price stability and full employment [6]

Core Viewpoint - The article discusses the challenges faced by small and medium-sized banks in attracting deposits amid declining market interest rates, leading to innovative strategies such as adjusting deposit rates and offering incentives to customers [1][2][9]. Group 1: Deposit Strategies - Small and medium-sized banks are adopting a "long rise, short drop" strategy for interest rates, increasing rates for longer-term deposits while decreasing rates for shorter-term deposits [1][3]. - As of January 2026, the bank where the client manager works has seen fluctuations in deposit rates, with the 3-year fixed deposit rate initially rising to 2.20% before being reduced to 1.80% [3][4]. - Some banks, like Hubei Macheng Rural Commercial Bank, have raised rates for specific deposit products, while others, like Hebei Wangdu Zhongcheng Village Bank, have lowered rates for short-term deposits [4][5]. Group 2: Incentives and Promotions - With most small and medium-sized banks offering deposit rates below 2%, customer managers are resorting to out-of-pocket expenses for gifts and subsidies to attract deposits [2][7]. - Incentives such as cash rebates, shopping vouchers, and other gifts are being used to enhance the appeal of deposit products, with some banks offering rates exceeding 2% when including these incentives [7][8]. - The article highlights that during the "opening red" period, banks often provide various gifts, but customers prefer higher-value items, leading to additional costs for bank staff [8]. Group 3: Regulatory Concerns - The practice of offering cash rebates and gifts to attract deposits raises regulatory concerns, as it may violate guidelines set by financial authorities aimed at maintaining fair competition in the deposit market [8][9]. - The article notes that the pressure on front-line employees to meet deposit targets can lead to non-compliance with regulations, creating a cycle of challenges for small and medium-sized banks [9].