European Central Bank executive member Schnabel: Rising interest rates have basically changed the macroeconomic environment and exposed vulnerabilities that have accumulated in the financial system during the period of very low interest rates.

European Central Bank executive member Schnabel: High deposit interest rates will provide more savings incentives (thus slowing down consumption). From the perspective of monetary policy transmission, it is desirable that the increase in ECB interest rates be passed on to deposit interest rates.

European Central Bank executive member Schnabel: Due to high uncertainty about the persistence of inflation, the cost of doing too little is still greater than the cost of doing too much.

European Central Bank executive member Schnabel: peak underlying inflation is not enough to call victory.

European Central Bank executive member Schnabel: We have more work to do.

European Central Bank executive member Schnabel: The underlying inflation rate is still high.

European Central Bank executive member Schnabel: However, there is great uncertainty about the intensity and speed of this process.

European Central Bank executive member Schnabel: The impact of our tightening monetary policy on inflation is expected to peak in 2024.

Regarding when the European Central Bank will pause interest rate hikes, European Central Bank executive member Schnabel said that how much interest rates need to be raised depends on the data to be released.

Draft Japanese government policy: The budget for the next fiscal year will strengthen child care and defense budgets.

Draft Japanese government policy: The Bank of Japan will continue to raise wages to meet its 2% inflation target.

British Ministry of Defense: In the next few days, the Kakhovka Dam may further collapse, causing more flooding.

Japanese Finance Minister Shunichi Suzuki: The government must investigate whether it can buy ETFs held by Japanese banks at book value to secure a source of income.

According to TASS: At least seven people are missing in the flood caused by the collapse of the Nowy Kakhovka dam.

Kazuo Ueda, Governor of the Bank of Japan: The Bank of Japan must ensure that its financial position is in good shape to avoid unexpected market attention on its financial position, thereby interfering with monetary policy decisions.

Deputy Minister of Economy of Kazakhstan: GDP growth rate is expected to reach 5% in 2023, higher than 3.2% in 2022.

The Bank of Canada will announce its interest rate decision today. The market expects to keep the interest rate unchanged, but be wary of the Bank of Canada following the Reserve Bank of Australia to raise interest rates unexpectedly. The current USD/CAD sell signal is strong. What is the market outlook? Lock in GAIN Capital Daily Market Barometer Updates

According to Tass: After the destruction of the new Kakhovka dam, the water level continues to drop.