ny fed digital currency- Top Overview

On Thursday (December 12th), the overnight reverse repurchase agreements (RRP) of the Federal Reserve was 165.025 billion US dollars, compared with 180.120 billion US dollars in the last trading daily.President of the European Central Bank: The euro zone economy continues to be weak and is still preparing to cut interest rates further. On December 12, local time, after the European Central Bank announced its decision to cut all three key interest rates by 25 basis points, President Lagarde of the European Central Bank subsequently held a press conference. She said that the Governing Council of the European Central Bank unanimously agreed to cut interest rates by 25 basis points, mainly based on the latest assessment of the current inflationary pressure, future prospects and the transmission degree of monetary policy to the real economy. On the same day, the European Central Bank also released the latest macroeconomic forecast, further lowering its expectations for economic growth in the euro zone. Lagarde said that poor economic development and continued weakness are worrying. She said that trade friction may drag down economic growth, and extensive geopolitical development is one of the upward risks of inflation. In view of the fact that the current economic growth in the euro zone is hit by domestic political instability in various countries, especially large economies such as Germany and France, and may face the threat of punitive tariffs imposed by US President-elect Trump, the European Central Bank is still preparing to cut interest rates further. Lagarde said that the ECB Council is determined to ensure that inflation is sustainable and stable at the medium-term target of 2%. The next interest rate decision is scheduled for January 30, 2025.The U.S. House of Representatives passed a bill to expand the judiciary.

The previous crude oil futures 2401 contract closed up 1.51% at 545.40 yuan/barrel. Shanghai Gold closed down 0.59% and Shanghai Bank closed down 1.67%.The Israeli army issued evacuation orders to several blocks in Gaza City, Gaza. On the afternoon of 12th local time, the IDF issued an evacuation warning to several blocks in Gaza City, Gaza, asking residents in relevant blocks to evacuate as soon as possible. In a statement, the Israeli army claimed that militants in Hamas fired rockets from these neighborhoods at Israeli troops fighting in the Gaza earlier that day.The previous crude oil futures 2401 contract closed up 1.51% at 545.40 yuan/barrel. Shanghai Gold closed down 0.59% and Shanghai Bank closed down 1.67%.

The overall implementation of the personal pension system is more optimized. After two years of implementation in 36 cities (regions), the personal pension system will be officially launched nationwide on December 15th. On December 12th, Ministry of Human Resources and Social Security, Ministry of Finance, State Taxation Administration of The People's Republic of China, State Financial Supervision and Administration Bureau, China Securities Regulatory Commission and other five departments issued the Notice on Full Implementation of Individual Pension System, which made it clear that from December 15th, 2024, all workers who participated in the basic old-age insurance for urban workers or urban and rural residents in China can participate in the individual pension system. China Securities Regulatory Commission said that the promulgation and implementation of the Notice is an important measure to implement the spirit of the 20th National Congress of the Communist Party of China and the Second and Third Plenary Sessions of the 20th Central Committee and accelerate the development of a multi-level and multi-pillar old-age security system, which is conducive to giving full play to the wealth management function of the capital market and building a sound policy system of "long money and long investment". At the same time, according to the requirements of the Notice, the China Securities Regulatory Commission timely optimized the product supply and included the first batch of 85 equity index funds in the personal pension investment product catalogue. Lou Feipeng, a researcher at China Postal Savings Bank, said that the Notice put forward targeted measures based on the situation encountered in the pilot, enriching the types of personal pension products, increasing the situation of receiving personal pensions in advance and effectively improving the personal pension system on the basis of the previous pilot, which will help attract investors to actively participate in personal pension-related investments. (Securities Daily)President of the European Central Bank: The euro zone economy continues to be weak and is still preparing to cut interest rates further. On December 12, local time, after the European Central Bank announced its decision to cut all three key interest rates by 25 basis points, President Lagarde of the European Central Bank subsequently held a press conference. She said that the Governing Council of the European Central Bank unanimously agreed to cut interest rates by 25 basis points, mainly based on the latest assessment of the current inflationary pressure, future prospects and the transmission degree of monetary policy to the real economy. On the same day, the European Central Bank also released the latest macroeconomic forecast, further lowering its expectations for economic growth in the euro zone. Lagarde said that poor economic development and continued weakness are worrying. She said that trade friction may drag down economic growth, and extensive geopolitical development is one of the upward risks of inflation. In view of the fact that the current economic growth in the euro zone is hit by domestic political instability in various countries, especially large economies such as Germany and France, and may face the threat of punitive tariffs imposed by US President-elect Trump, the European Central Bank is still preparing to cut interest rates further. Lagarde said that the ECB Council is determined to ensure that inflation is sustainable and stable at the medium-term target of 2%. The next interest rate decision is scheduled for January 30, 2025.The allocation percentage of the winning interest rate in the four-week national debt auction in the United States from December 12 was 57.75%, and the previous value was 77.28%. The four-week national debt auction in the United States until December 12-the winning interest rate is 4.24%, and the previous value is 4.4%. 4-week national debt auction in the United States from December 12-bid multiple is 3.14, and the previous value is 2.74.