On Wednesday, the European Commission’s Vice-Chairman and Senior Representative for Foreign and Security Policy Josep Borrell said that although the EU’s relations with Russia are already at the “lowest point”, the EU and they must do a good job in the bilateral relations that will go further. Preparation for deterioration. He also stated that the 27-member EU must become more “strong and resilient” and adopt a policy combination of resistance, restraint, and engagement in an effort to make EU-Moscow relations more stable and predictable. He told reporters, “The EU needs to be realistic and prepare for the further deterioration of our relations with Russia. At present, our relationship is at its lowest point.” Borelli said: “In order to contain Russia’s attempts to undermine the interests of the EU, the EU itself Must become stronger and more resilient,”. And he believes that the goal of the EU should be to gradually change the development of bilateral relations to make them more predictable and more stable. The President of the European Commission von der Lein described the development of relations with Russia as a vicious cycle.
After Fed officials predicted that the first interest rate hike after the pandemic would be advanced to 2023, the price of gold fell sharply on Wednesday (June 16) due to a frantic sell-off. Spot gold closed at US$1812.13 per ounce, down US$46.49 or 2.50%. It once hit a high of US$1,863.15 per ounce during the session, but then fell sharply from US$60 to a low of US$1803.23 per ounce, and rebounded from the low in late trading. In the new forecast, 11 of the 18 Fed officials expect to raise interest rates at least twice in 2023, each raising interest rates by 25 basis points, although the officials pledged in their statements to temporarily maintain policy support to encourage continued employment recovery. However, the Fed kept the benchmark short-term interest rate close to zero and said that they will continue to buy US$120 billion in Treasury bonds every month to promote economic recovery.
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