On September 21 local time, the Federal Reserve announced its interest rate decision and announced a 75 basis point rate hike. This is the fifth rate hike this year, and it is also the third consecutive rate hike of 75 basis points.

China Fund News Taylor

Hello everyone, let’s take a look at the big events on the evening of the 22nd.

The world starts a war of currency defense?

On September 21, local time, the Federal Reserve announced its interest rate resolution and announced that rate hikes 75 basis points. This is the fifth rate hike this year, and it is also the third consecutive rate hike of 75 basis points. Affected by this news, the index hit a 20-year high, reaching a high of 111.83.

instead of US currency generally fell. On the afternoon of the 22nd, Japan started to defend the yen.

Traders said the intervention was conducted shortly after 5 p.m. local time in Tokyo, causing the yen to soar from 145.83 yen to 142.39 yen in a few minutes.

When asked if it was an intervention, Kanda Mato admitted "yes". Masato Kanda emphasized: "We will continue to monitor the development of the foreign exchange market with a high sense of urgency and take all possible measures to deal with these issues."

This move has achieved initial success. Within minutes, the yen rose, jumping by more than 500 points in the short term! The US dollar fell to around 141 yen against the Japanese yen.

The weakness of the yen and the strength of the dollar were strengthened by the stimulus of monetary policy differences between Japan and the United States. As import prices soared, the burden on households has increased.

On the same day, before that, Bank of Japan Governor Kuroda Haruhiko said on Thursday that the policy interest rate remained unchanged at -0.1%, and the central bank had no plan to raise interest rates. Under the general trend of global monetary tightening, this statement confirms the bank's easing position. "Our position to maintain the loose monetary policy of for the time being has absolutely not changed. We will not raise interest rates in the future."

After the global falls into inflation, central banks from the Federal Reserve to the Swedish Central Bank have begun to raise interest rates in a "chasing each other" manner. However, the Bank of Japan "sings a counter-tune" and sticks to its monetary easing position, but still "stands on the sidelines" in interest rate policy, insisting on the world's only negative interest rate policy.

There are three main reasons why the Bank of Japan insists on continuing to be easing. First, inflation is relatively eased. Currently, most of Japan's inflation is rising due to the depreciation of the yen, and analysts believe that Japan's core CPI is not hyperinflation from the perspective of absolute value.

Second, the Japanese economy is still in a weak period, indicating that the potential pressure on prices is still declining;

Third, the Japanese economy has not experienced inflation-wage "spiral rise", which means that consumers believe that the current high prices are only temporary, so the demand for high wages is limited.

After the U.S. rate hike, the Swiss National Bank announced a 75 basis point rate hike, raising the interest rate from -0.25% to 0.5%. End the negative interest rate policy that lasted for up to 8 years. Officials led by Swiss National Bank President Jordan raised the policy rate for Swiss to 0.5%, their most radical austerity move in 20 years. This move is in line with the median forecast of economists.

In addition, the Bank of England also took action. In a statement, the Bank of England raised the benchmark interest rate from 1.75% to 2.25%, which is the second consecutive rate hike of 0.5 percentage points at the policy meeting, which is the seventh consecutive rate hike of the central bank and the longest rate hike cycle since the late 1990s.

The Bank of England raised its benchmark interest rate for the seventh consecutive time on Thursday, but did not speed up the pace of interest rate hikes as the UK government's measures to limit soaring energy costs are expected to ease inflation in the coming months.

. Affected by the pull-up of the yen, other non-US currencies also rose against the US dollar, jointly pushing the US dollar index down.

US stocks still fluctuated and fell. Nasdaq is more powerful in diving.

There are charges for quarantine in both places.

22. On the evening of the 22nd, several small places announced that the quarantine in the new crown was charged.

On the evening of September 22, the WeChat public account of the Propaganda Department of Zhenxiong County Party Committee of Yunnan Province released a message.According to reports, a few days ago, it was learned from the Zhenxiong County COVID-19 Prevention and Control Command that from 0:00 on September 21, 2022, Zhenxiong decided to implement fee management for all new people living in centralized isolation facilities.

There are two charging standards, namely 100 yuan per day and 150 yuan per day.

Among them, Sunshine Viewpoint, County Second Hospital Viewpoint, Wude Nursing Home Viewpoint, Chishuiyuan Centralized Isolation Point, will charge living service fees during the isolation period at a standard of 100 yuan per person per day; Sweet Hotel, Amman Hotel and other centralized isolation places in urban areas will charge living service fees during the isolation period at a standard of 150 yuan per person per day; other centralized isolation places in townships will charge living service fees during the isolation period at a standard of no more than 150 yuan per person per day.

All quarantined persons must pay a one-time fee according to the standard when they move into the quarantine place. After each centralized isolation facilities charge fees, invoices must be issued in a timely manner.

According to reports, each centralized isolation site will promptly inform the charging standards before the quarantine targets move in and do a good job in policy explanation; if the quarantined personnel refuse to pay fees, submit false supporting documents, or refuse to cooperate with the relevant regulations and requirements of the centralized isolation site, they will be handed over to the public security department for legal responsibility in accordance with the law.

In addition to Zhenxiong County, Yunnan, Changshou District, Chongqing City has also issued a similar announcement.

announcement stated that in view of the current severe and complex epidemic prevention and control situation, in order to strengthen the standardized management of centralized isolation points, after research by the Changshou District New Coronavirus Pneumonia Epidemic Prevention and Control Leading Group, it was decided to charge a certain amount of food and accommodation fees for people who are centralized isolation and medical observation in Changshou District during centralized isolation.

charging standards are as follows:

1, Yanjia Phase II public rental housing isolation point: 300 yuan/person/day (including meal expenses of 60 yuan/person/day).

2. Quarantine hotel: Room rates are charged according to the room price agreed by the hotel, and meal rates are charged at 60 yuan/person/day.

starts to be collected from 0:00 on September 21, 2022. When checking in, the quarantine point (hotel) will be pre-paid at one time, and unified settlement will be made when the quarantine is lifted.

In addition, the announcement shows that if the situation falls into these categories, it can be exempted.