Cryptocurrency
Inflation in the US exceeded forecasts in January. According to the data of the US Department of Labor, monthly inflation was 0.3% and annual inflation was 3.1%. The expectation was that inflation would be 0.2% monthly and decline to 2.9% annually. Inflation was 0.2% monthly and 3.4% annually in December last year.
US Treasury Secretary Janet Yellen said yesterday that January consumer price index data showed progress in the fight against inflation, although the increase in housing costs increased the index more than economists predicted.
Jeff Bezos, the second wealthiest name in the world, did not spend much time selling Amazon shares. Jeff Bezos, who announced that he could sell up to 50 million Amazon shares, sold 24 million shares in four trading days and earned $4 billion in income from this sale.
European Central Bank Chief Economist Philip Lane said cutting interest rates too early or too late carries risks. In his statement to Spain’s RTVE channel, Lane said that although the current trend in inflation is very good, more time is needed to ensure that the price increase returns to the 2 percent target.
The intervention signal of the Japanese authorities followed the dollar/yen exchange rate exceeding 150 for the first time after November. Japan’s top executive responsible for exchange rate policies, Deputy Minister of Finance Masato Kanda, said in his statement: “Some recent rapid exchange rate movements were compatible with the fundamentals, but some movements were definitely speculative.” I think speculative action is not desirable. He gave a strong signal of intervention in the yen, saying, “The authorities are ready to do what is necessary 24 hours a day, 365 days a year.”
Asian markets fell, led by Japanese stocks, after warmer-than-expected US inflation data sent Wall Street lower.
After downgrading Israel’s country credit rating last week, Moody’s made a rating assessment for Israeli banks today. In the statement made by the credit rating agency, it was stated that the long and short-term deposit credit ratings of five Israeli banks were downgraded and their rating outlook was negative.
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