US Dollar:
1.
Federal Reserve - ① Logan called for a reform of the interest rate benchmark, replacing the federal funds rate with the more efficient Tripartite General Guaranteed Rate (TGCR), given that the former trades approximately $1 trillion per day, while the latter is $100 billion per day. She described the move as a technical adjustment and called for early reforms. ② Bowman: The focus should shift now, not inflation. ③ Schmid: The more the balance sheet shrinks, the better. ④ Goolsbee: Somewhat uneasy about prematurely implementing excessive rate cuts based on slowing employment data, as we are still trying to determine whether inflation has peaked. ⑤ Cook warned the Supreme Court: If she is fired, the market will be in turmoil. ⑥ Daly: We should not fully shift to a neutral stance; the risks are too great.
2. The yield spread between US 5-year and 30-year Treasury bonds fell below 100 basis points for the first time since August 11.
Major Non-US Currencies:
1. The People's Bank of China: Conducted 600 billion yuan in 14-day reverse repurchase operations using a fixed-quantity, interest-rate tender, and multiple-price-level bidding method. 2. Russian Central Bank Governor Elvira Elbiullina: If inflation continues to decline, we will lower the key interest rate.
3. Swiss National Bank President: Our intervention in the foreign exchange market is unrestricted; there is no discussion of reintroducing a floor exchange rate system.
4. Reuters poll: The Reserve Bank of Australia is expected to keep the cash rate unchanged at 3.60% in September. It is expected to cut the rate to 3.35% by the end of 2025.
5. Japan's Finance Minister: The decision was made to establish an institution within the Japan Bank for International Cooperation to support Japan's 550 billion yen investment plan in the United States.
6. The European Central Bank released research results on the Digital Euro Innovation Platform and announced the launch of the second round of experiments.
Others:
1. Reuters poll: Eight of 11 economists expect the Bank of Israel to maintain its key interest rate at 4.5% on Monday; three expect a 25 basis point cut.
2. Polish Central Bank Monetary Policy Committee Member Dabrowski: Poland is ready to cut interest rates, but will be very cautious. 3. Mexico's central bank cut its interest rate by 25 basis points to 7.5%, in line with market expectations, with one dissenting vote.
4. Indonesia's central bank governor: The central bank pledged to maintain the stability of the rupiah by "boldly using all available tools."
