U.S. Treasury Secretary urges more fiscal policy in Congress
U.S. Treasury Secretary Mnuchin and Federal Reserve Chairman Powell both urged Congress to introduce more fiscal policies to support the economy at the Senate Banking Committee hearing. Among them, Mnuchin suggested that Congress allocate relevant funds to projects that aid small businesses and the unemployed. As for Powell, he said that the road to economic recovery is still long. The industries hardest hit by the epidemic, such as restaurants, hotels, and entertainment venues, may need more assistance. It is more appropriate for the government to provide subsidies at this stage.
Australia’s central bank announces unchanged Witte rate
After the last interest rate meeting this year, the Reserve Bank of Australia announced that the Witer rate and 3-year Treasury bond yield target remained unchanged at 0.1%, while maintaining its A$100 billion bond purchase plan, in line with market expectations. The central bank statement pointed out that the economic recovery is underway, and the recent data is generally better than expected, but the economic recovery is expected to remain unstable and slow, and it still depends on policy support.
Z. com Bullion is an affiliate of GMO Financial Holdings, Inc., a Japanese listed group. The risk of loss in leveraged foreign exchange trading & margin trading can be substantial. Visit the company website to read full risk warning. https://bullion.z.com/en/about/legal/risk/
Service relating to Over-the-counter (OTC) Gold Bullion/Silver trading is provided by MOL. OTC Gold/Silver Bullion trading carries a high degree of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. OTC Gold/Silver Bullion is not regulated by the Securities and Futures Commission (""SFC"") and therefore trading OTC Gold/Silver Bullion will not be subject to rules or regulations promulgated by the SFC. Before deciding to trade OTC Gold/Silver Bullion you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain losses in excess of your deposited fund or even more in extreme circumstances and therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading OTC Gold/Silver Bullion, and seek advice from an independent financial advisor if you require.