Japan committed to monetary easing in light of the yen’s decline to its lowest level in 32 years.
Bank of Japan Governor Haruhiko Kuroda said during his meeting at a symposium on Saturday
that his country is committed to further monetary easing and that the situation has not changed.
He added that the Bank of Japan continues its policy to significantly support the economy
and also to ensure shifting standards and reaching the goal of stable prices.
This comes at a time when the Japanese yen is falling to its lowest level in 32 years.
topıcs
BMW and a new blow to Britain moving
Piracy threatens the cryptocurrency industry
falling yen
The currency is still in continuous decline after witnessing a turbulent week,
after the low-interest decisions and keeping them,
which leads to the further weakening of the currency significantly,
and expectations also indicate that the authorities will intervene to support the country’s currency
after a similar decision was mentioned in a month last August
The yen fell against the US dollar at the end of last week’s trading to 148.85,
its weakest level since 1990, in August, amid rising voices expecting firm intervention
at any time by the authorities in the market.
high inflation
Inflation in Japan a major indicator rose to 2.8% and is considered
the weakest between the United States and Europe as well,
and this level is still the highest in 31 years,
this would increase the fears of families who are highly accustomed to sustainable deflation for long periods,
and the head of the Central Bank of Japan was He stressed the need to change the culture
and mentality of the Japanese about high prices, in reference also to the high basic salaries.
The markets are awaiting the Central Bank of Japan’s decision on monetary policy scheduled for October 28,
while observers believe that there is no intention to tighten monetary policy the current governor of the Bank
until after the end of his current term in April of next year,
as Kuroda added that Epidemic recovery needs support through monetary easing.
artıcle name Japan committed to monetary easing in light of the yen’s decline
BMW and a new blow to Britain moving
its production of the electric car “Mini” in China.
In a new step, the giant car maker, BMW,
decided to cancel any production of mini-electric cars in Britain
and move production to China,
thus dealing a strong blow to the car conversion industry within the United Kingdom,
which is trying to add batteries.
This decision came after the partnership it signed with the Great Wall Motor Company to benefit
from the electric hatchback car industry as well as small SUVs in China,
even though the factory for mini cars located near Oxford in England will restart work again.
In the manufacture of convertible cars, with the beginning of 2025,
the company announced the start of the manufacture of its electric cars,
specifically, the “Mini” model, starting in 2023.
Declining battery production
Although the United Kingdom is the home country for the manufacture of the first electric car
and in large quantities also in the continent of Europe,
it has lagged significantly from the rest of the countries in the development of battery manufacturing as well as electric vehicles,
as reports stated that a company such as “British Volt” is a company seeking to the battery industry
with a government pledge to finance it,
while some negotiations are underway to sell the current site of its factory that manufactures battery cells.
BMW and Mercedes withdraw from a car rental
Last May, the two leading companies, BMW and Mercedes,
in the automotive industry decided to rent their car to the residents,
and the bill would be paid by the minute.
That car is available to consumers in all urban areas,
but now this last chapter of it has been closed,
and these changes came in light of the fierce competition from the electric car giant “Tesla”,
while the two companies are currently seeking to transform their dependence on electric batteries
and focus heavily on selling luxury cars such as The BMW 8 class,
whose price is now 85 thousand dollars,
as well as the car “Mercedes S”, and the price of 111,000 dollars.
artıcle name Japan committed to monetary easing in light of the yen’s decline
Piracy threatens the cryptocurrency industry
and the theft of an estimated 3 billion dollars in 2022 only.
Chain Analysis, a specialist in (Bookchin),
stated that approximately $718 million was hacked in October alone.
It seems disastrous. The bottom line is not to use the central broker,
which leaves an opportunity for pirates to enter in disguise.
Decentralized financing protocols publish algorithms based on the program so
that traders and investors can borrow and trade,
which would weaken the security of currencies, as not using a central broker
as we mentioned makes it easy for the thief to hide and frown.
This October 2022 witnessed the most thefts,
as reported by Chain Analysys in a tweet on her Twitter account.
She also indicated the weakness of bridges between several Bookchains
exploited by hackers and affecting the weak security of the network.
Pirates have become more cunning and fully aware of security weaknesses
and the structure of the central market,
which constitutes a great burden on currency operators,
in addition to their inability to stop decentralized financing,
which is one of the conditions for currency adoption.
As it became noticeable in the countries themselves,
they became the sponsors of hackers in groups that carried out more than one piracy operation this year,
which (Chen’s Analysys) proved to be affiliated with the North Korean state.
While some decentralized finance platforms have become the target of all state-backed hackers.
Earlier this year, an estimated $1 billion, Chain Analysis estimated that
North Korean groups had stolen nearly $1 billion in cryptocurrency from decentralized finance protocols.
One of the most important thefts that took place during the previous time is the hacking of (Nancy Quinn),
of which about 570 million dollars were minted and it was hacked,
and the two questions about the currency could only import 100 million,
and about 100 million dollars were also stolen,
which was hacked The way to manipulate the price of the currency
through decentralized financing through the Mango service.
artıcle name Japan committed to monetary easing in light of the yen’s decline
