FITCH RATINGS: IRAN CONFLICT TESTS EMERGING MARKET ISSUERS' RESILIENCE

US Dollar: 1. The chairman of the US Senate Banking Committee proposed a possible panel to investigate the Federal Reserve's construction projects. 2. Trump: I will be disappointed if the new Fed chairman does not cut interest rates quickly. I have always supported raising interest rates to curb inflation, and now the US should set interest rates at the lowest level in the world. 3. Fed chairman nominee Warsh: The Fed needs to develop a new framework to address inflation; it should gradually reduce the provision of forward guidance. 4. Indonesian central bank governor: Fed rate cuts may be delayed, and interest rates may remain unchanged until the end of 2026. Pound Sterling: 1. A survey shows that despite the threat of inflation, the Bank of England is expected to keep interest rates unchanged in 2026. 2. The UK's March CPI rose 0.7% month-on-month, the largest increase since April 2025. Japanese Yen: 1. The Bank of Japan warned that overseas hedge fund portfolio adjustments could pose a risk to the Japanese bond market. 2. It is understood that the Bank of Japan is inclined not to raise interest rates in April, but will maintain a tightening stance. Other: 1. Czech Central Bank Deputy Governor: The next interest rate move is more likely to be an increase, but there's no need for hasty action. 2. Sources: The US Trade Representative told Mexican businesses that there will be no return to a zero-tariff era. 3. Moody's upgraded Thailand's rating outlook to "stable" as the impact of US tariffs has eased. 4. Traders: The Reserve Bank of India may sell dollars to limit the rupee's depreciation. 5. Indonesian Central Bank Governor: As of the first week of April, the liquidity stimulus program has provided an additional 427.9 trillion rupiah in liquidity. 6. Indonesian Central Bank Governor: Monetary intervention has been increased. Supported by central bank policies and a positive economic outlook, the rupiah is expected to remain stable and tend to strengthen in the future. 7. Indonesian Central Bank Governor: The Middle East war has exacerbated the deterioration of the global economic outlook. Global economic growth is projected at 3% in 2026, lower than the previous forecast of 3.1%; global inflation this year is projected at 4.2%, higher than the previous forecast of 4.1%.

US STATE DEPARTMENT APPROVES POTENTIAL SALE OF HELLFIRE MISSILES TO NETHERLANDS FOR $200 MILLION