Monetary Policy and Economic Outlook - The central bank plans to lower the reserve requirement ratio and interest rates based on economic conditions, with current reserve requirement having room for reduction[1] - The central bank will expand the re-lending scale for technological innovation from 500 billion yuan to between 800 billion and 1 trillion yuan[1] - Morgan Stanley and Goldman Sachs have lowered their 2025 U.S. GDP growth forecasts to 1.5% and 1.7%, respectively, due to tariff policies and fiscal contraction[2] Trade and Tariff Developments - President Trump indicated potential increases in tariffs on certain goods from Canada and Mexico, including a 250% tariff on dairy products[1] - Ontario province has imposed a 25% tariff on electricity exports to the U.S., raising costs by approximately 10 CAD per megawatt hour[1] Commodity and Market Performance - Domestic commodity futures mostly declined, with soybean meal and palm oil dropping nearly 2%, while canola meal rose by 6.99%[2] - NYMEX crude oil closed at $65.92, down 1.69%, with a year-on-year decline of 19.61%[3] - COMEX gold and silver prices fell by 0.84% and 1.52%, with year-on-year increases of 33.15% and 30.73%, respectively[3] Stock Market Trends - The Hang Seng Index decreased by 1.85%, while the Dow Jones Industrial Average fell by 2.08%[3] - The Shanghai Composite Index closed at 3366.16, down 0.19%, with a year-on-year increase of 11.23%[3] Bond Market Insights - The 10-year U.S. Treasury yield is at 4.22%, showing a slight decrease of 0.10%[3] - The current probability of a Federal Reserve rate cut is 96.0% for the meeting on March 19, 2025[3]