A senior economic official of US President Joe Biden said that the Biden administration is still “very confident” that the highest inflation rate in decades will be short-term. Once the supply chain and labor market disruption caused by the epidemic is eased, inflation Will weaken. Secretary of Commerce Gina Raimondo said in an interview on Thursday that the rising cost of living is a problem that affects Americans’ daily lives, especially during the holiday season. They pay higher prices for Thanksgiving turkeys and Christmas trees. Biden understands this. Kind of influence.

U.S. online retail prices rose 3.5% year-on-year in November, marking the largest increase since software company Adobe Inc. began tracking the digital economy in 2014. This change is the 18th consecutive month of rising and is another epitome of overall US inflation. E-commerce used to be a discount platform, especially during the holiday season, but it has become a stable source of inflation as the economy recovers from the epidemic.

A senior Bank of Canada official stated that the central bank is concerned that the global supply chain dilemma that is pushing up inflation may last longer than expected. After the Bank of Canada decided to keep interest rates unchanged on Wednesday, Deputy Governor Toni Gravelle said on Thursday that supply chain disruption was an important consideration in making this policy decision. Gravelle reiterated that these constraints and inflation are expected to eventually ease next year, but also emphasized that the outlook faces many uncertainties. The Bank of Canada will reassess whether supply bottlenecks and shortages are affecting economic growth in January.

According to people familiar with the matter, Bank of Japan officials believe that there is a possibility of a downward adjustment of the enlarged corporate bond purchase ceiling. People familiar with the matter said that since the outbreak of the epidemic, the financing of large companies has improved significantly, reducing the need to expand corporate bond acquisitions. They added that it is not clear when the decision will be made. The Bank of Japan will hold a policy meeting from December 16 to 17, and it is widely expected that its main policies will remain unchanged. The focus may be on whether the central bank will extend the special financing plan for the new crown epidemic.

S&P Global Platts said that although the world continues to respond to new variants of the coronavirus, oil demand will continue to grow next year. S&P Global Platts' head of supply and production, Shin Kim, stated in the company's 2022 energy outlook report that a large part of the growth in consumption in 2022 will come from jet fuel and the market's rising demand for other petroleum products such as automobile fuel. "The foundation for oil demand growth is solid," she said, predicting that next year's daily demand growth will be between 3 million and 6.4 million barrels.

This is a clear signal from the supervisory authorities to the RMB, which has recently hit a three-year high. The offshore renminbi hit its biggest decline in more than 4 months. Economists such as Goldman Sachs Group Shanhui and Wei Qi said in the report that the increase in the reserve ratio of foreign exchange deposits by the People's Bank of China may temporarily slow down the appreciation of the renminbi, but upward pressure still exists. They predict that next policymakers can have the following policy options to curb this momentum: increase verbal intervention to guide market expectations. The countercyclical factor was officially re-incorporated into the middle price formation mechanism.

Risk Warning: The above content is for reference only, and does not represent JRFX’s position. JRFX does not assume any form of loss caused by any trading carried out in accordance with this article. Please consult your financial planner for your investment portfolios and manage your own risk.

JRFX is an online CFD broker providing more than 50 products for Forex, metals and commodities. Open a trading account within a minute. Deposit 100USD and download our MT4 trading platform now!