Other news

On Wednesday, board member Toyoaki Nakamura declared that now it’s too early to change the ultra-soft monetary policy. According to him, the unstable economy needs numerous stimuli.

In November, house prices in the UK dropped at the sharpest pace in 14 years.

The Group of Seven countries (G-7) set a price cap on Russian oil. In response to this restriction, Russia is considering the possibility of setting a floor price for its oil in the global energy market.

Japanese big manufacturers’ business confidence improved in December for the first time in four months. Non-manufacturers’ sentiment also rose, to reach its highest index reading for three years, a Reuters survey showed. Given the data, Japan is on track for a steady recovery from the pandemic.

On Tuesday, the cost of natural gas in the States decreased by almost 2%. This is a new five-week low. Such a situation was caused by falling oil prices and a decrease in demand for gas.

The U.S. Energy Information Administration's (EIA) outlook for crude output growth in the current year has been marginally raised. At the same time, the growth in petroleum demand, apparently, will be less than originally anticipated.

According to Jonathan Heath, deputy governor of the Bank of Mexico (Banxico), the cycle of rate increases is not over yet. Nevertheless, after four consecutive increases of 0.75%, there is now the possibility of a slowdown.

Reliable sources said that Chinese officials are discussing economic growth targets for 2023. The benchmark is likely to be a level of 5%. This is due to the shift in the course Beijing had previously chosen. Now, the country is looking at economic recovery.

According to the Ministry of Finance, Japan's foreign reserves rose in November to their highest level in six years.

According to a Reuters poll of market strategists, the U.S. dollar might strengthen against many currencies in the upcoming months due to the growing threat of an economic recession.