Other news

According to the Bank of England survey, 60 major financial companies expect the end of the upward cycle in March. At the same time, rates are projected to rise to 4.25%, up from 3.5% in December.

On Sunday, spot power price surged in Japan due to increased demand for heating. More and more energy is required as the northeast part of the country is hit by heavy snow.

In December, U.S. inflation decreased significantly due to a drop in demand. A decline in the number of new orders to the lowest level in 2.5 years caused a fall in business activity.

Economists at Commerzbank expect that gold prices may drop to $1,750 at the beginning of 2023. Although, the yellow metal is likely to reach $1,850 by the year-end.

The US Energy Department said that it is starting to buy oil for the Strategic Petroleum Reserve (SPR) after selling 180 million barrels earlier this year.

In order to combat high inflation in the economy, the Fed will most likely be forced to raise the key interest rate above 5.1%, and then hold it at that level until 2024.

According to the Reuters poll, nearly 50% of the respondents believe that the Bank of Japan may conduct a review of its ultra-easy monetary policy between March and October 2023.

According to a statement made on Saturday by Economy Minister of Italy Giancarlo Giorgetti, it’s highly unlikely that energy prices would go down by early spring next year.

Federal Reserve Chair Jerome Powell is cautiously analysing the cost scale of various services in the labour market. This initiative is driven by the fact that wages can impose particularly large costs on certain services.

According to Australia's sovereign welfare fund, gold and other goods compensate for decreasing yields by asset classes