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Politics

Bank of Japan hikes rates for the first time in 17 years, abolishes yield curve control

Bank of Japan hikes rates for the first time in 17 years, abolishes yield curve control

Japan’s central bank raised interest rates on Tuesday for the first time since 2007, ending the world’s last negative rates regime on early signs of robust wage gains this year. The BOJ raised its short-term interest rates to around 0% to 0.1% from -0.1%, according to its statement at the end of its two-day March policy meeting. Japan’s negative rates regime had been in place since 2016. The BOJ also announced the abolition of its radical yield curve control policy for 10-year Japanese government bonds, which the central bank has employed to target longer-term interest rates by buying and selling bonds as necessary. The BOJ said it would stop purchases of exchange-traded funds and Japan real estate investment trusts (J-REITS) and will slowly reduce its purchases of corporate bonds, aiming to stop this practice in about a year. The BOJ will, however, continue its purchases of Japanese government bonds with broadly the same amount as before. This represents the sharpest pullback in its decades-old radical policy tinkering in the form of asset purchases and quantitative easing to …

Ukraine prepares to join the EU club — but Brussels doesn’t want to talk about it – POLITICO

Ukraine prepares to join the EU club — but Brussels doesn’t want to talk about it – POLITICO

The task ahead on enlargement for the EU is Herculean, particularly on the issue of Ukraine. War-devastated Ukraine, with nearly 44 million people, would be the largest landmass in the bloc. Given its population, Kyiv would wield considerable influence in the European Parliament and the Council of the EU.   Ukraine, once an EU member, will have one of the lowest GDPs. That would put massive strain on the bloc’s cohesion policy — funding that flows from richer regions to poorer areas. Integrating Ukraine into the bloc could mean some €186 billion in EU funds flowing to the country over seven years, according to an internal note from the Council of the EU last fall. Spanish farmers gather with their tractors during a protest | Cesar Manso/AFP via Getty Images Future enlargement would mean all current EU countries “will have to pay more and receive less,” the document spelled out in no uncertain terms. The bloc decided preparations for the eventual integration of Ukraine, Moldova, Georgia, and six Western Balkan countries should be carried out internally, …

A snap election may well be an option for ‘Bibi the magician’ – POLITICO

A snap election may well be an option for ‘Bibi the magician’ – POLITICO

So, what are his plans now to pull off yet another Houdini-like escape?   One of Netanyahu’s biggest fears is that protests against him will soon take off once more, and that this time, they may even dwarf last year’s demonstrations against his judicial reform plans. And the demobilization of Israeli reservists, who blame Bibi for failing to prevent the Oct. 7 Hamas attacks, would likely turbocharge any anti-Netanyahu protests, noted Shtrauchler. “If they will not see achievements in a few months, 300,000 or so reservists will start demobilizing and returning home. And without a doubt, some of them will start protesting and demanding an election,” Shtrauchler said. “The protests that might come will make last year’s look like a walk in the park.” An Israeli soldiers take cover close to the border with Gaza on October 7 | Oren Ziv/AFP via Getty Images So, one option would be to try and preempt this by going for an early election, and using mounting U.S. criticism of the war in Gaza — a war supported by …

Tory MP says cadets should be given old military equipment and weapons | Politics | News

Tory MP says cadets should be given old military equipment and weapons | Politics | News

The MP said: “It goes without saying that higher operating costs should be mitigated too, that more transport should be available, that more opportunities are provided to train alongside our regular forces and that better event training and more updated equipment can be delivered.” “Whilst it is a considerable outlay for the MoD to provide uniforms, weapons and other personal kit, it should be possible for other serviceable ex-military equipment, that would otherwise be disposed of, to be provided to cadet units.” He also thinks people who help out as volunteers should get some money for their time. He explained: “It would be massively positive for all of our adult volunteers to be given a financial incentive for their time.” “Not only would this be recruitment and retention positive, it would send a clear signal that the MoD is taking the broader benefits more seriously. Our volunteers are the lifeblood of the Cadet movement.” During a debate on the cadet expansion programme, Mr Sunderland said better training facilities should be provided for cadets. Source link

Tentative deal reached to avoid shutdown as negotiators resolve Homeland Security bill

Tentative deal reached to avoid shutdown as negotiators resolve Homeland Security bill

WASHINGTON — Congressional leaders struck a deal Monday evening on funding the Department of Homeland Security, two sources familiar with the talks said, paving the way for lawmakers to begin processing the remaining spending bills and avert a government shutdown next weekend. Details of the deal, which another source characterized as an agreement in principle, were not immediately available. Funding is set to expire Saturday morning for the departments of State, Defense, Homeland Security, Labor and Health and Human Services and a host of other agencies. The other five funding bills were effectively settled by the end of last week, with only the Homeland Security bill presenting deep divisions Republicans and Democrats were unable to settle. Heading into the weekend, negotiators were poised to release a package that includes the five other funding bills and would fund DHS separately on an extended stopgap basis, largely continuing the status quo, before reviving attempts to negotiate a full-year funding bill for the department through the end of September. Separately, a source familiar with negotiations said the White House and …

Biden to host Japan PM Kishida, Philippines President Marcos for White House summit

Biden to host Japan PM Kishida, Philippines President Marcos for White House summit

President Joe Biden will host Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. for a White House summit next month amid growing concerns about North Korea’s nuclear program, provocative Chinese action in the South China Sea and differences over a Japanese company’s plan to buy an iconic American steel company. Eugene Hoshiko | AFP | Getty Images President Joe Biden will host Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. for a White House summit next month amid growing concerns about North Korea’s nuclear program, provocative Chinese action in the South China Sea and differences over a Japanese company’s plan to buy an iconic American steel company. White House press secretary Karine Jean-Pierre in a statement on Monday said the first-ever U.S.-Japan-Philippines leaders’ summit is an opportunity to highlight the countries’ “growing economic relations, a proud and resolute commitment to shared democratic values and a shared vision for a free and open Indo-Pacific.” The three leaders have no shortage of issues to discuss. The announcement came as North Korea’s state media reported that North …

China’s military, state media slam U.S. after report on SpaceX spy satellites

China’s military, state media slam U.S. after report on SpaceX spy satellites

Chinese military and state-run media on Sunday accused the United States of threatening global security, days after a Reuters report which found Elon Musk’s SpaceX was building hundreds of spy satellites for a U.S. intelligence agency. Orlando Sentinel | Tribune News Service | Getty Images Chinese military and state-run media on Sunday accused the United States of threatening global security, days after a Reuters report which found Elon Musk’s SpaceX was building hundreds of spy satellites for a U.S. intelligence agency. SpaceX’s Starshield unit is developing the satellite network under a classified $1.8 billion contract with the National Reconnaissance Office, or NRO, Reuters reported on Friday, citing five sources familiar with the program. A social media account run by the People’s Liberation Army, or PLA, said the SpaceX program exposed the United States’ “shamelessness and double standards” as Washington accuses Chinese tech companies of threatening U.S. security. “We urge U.S. companies to not help a villain do evil,” Junzhengping, an account run by the PLA, posted on social media platform Weibo on Sunday. The account has 1.1 million followers. “All countries worldwide should be vigilant and protect against new and even bigger security threats created by the U.S. government,” the post said. Wang Yanan, chief …

Michael Cohen, Stormy Daniels allowed to testify in Trump hush money trial

Michael Cohen, Stormy Daniels allowed to testify in Trump hush money trial

A New York judge on Monday denied Donald Trump’s bid to keep his former lawyer Michael Cohen and adult film star Stormy Daniels from testifying in the former president’s criminal trial related to a 2016 hush money payment. Judge Juan Merchan gave both Cohen and Daniels the green light to take the stand, but placed some restrictions on Daniels’ testimony, namely that she can’t testify about a lie detector test she took in 2018 indicating she’d been truthful about her comments about Trump. Manhattan District Attorney Alvin Bragg’s case against Trump alleges that he falsified business records to hide money he was paying Cohen to reimburse him for $130,000 the attorney paid Daniels in the closing days of the 2016 presidential campaign. Daniels has claimed she had a sexual encounter with Trump in 2006. Trump has denied that he slept with Daniels, but he has acknowledged repaying Cohen. In a court filing last month, Trump’s attorneys argued neither Cohen nor Daniels should be allowed to testify because they’re “liars.” Cohen admitted having lied under oath during his …

Welsh schools let kids change gender without telling parents | Politics | News

Welsh schools let kids change gender without telling parents | Politics | News

Schools are giving the go ahead for youngsters to change gender without advising their parents under Welsh Labour, it was reported last night. The situation has led to mothers and fathers to speak out over the situation when pupils start to question their gender in schools. It has led to the Welsh Government to pledge to publish draft guidance for schools in the spring to advise them on how to deal with youngsters who start to question their gender. But Merched Cymru, a grassroots group of women based in Wales, told the Telegraph that child safety was being placed at risk. All 68 schools in Wales revealed in freedom of information requests put forward by the group they would enable the gender transition of a pupil. But only 28% of the schools said they would tell parents. A total of 38% said they would not tell parents automatically and a further 29% said they would only inform parents with a child’s permission. A Welsh government spokesman said: “We agree this is an area that needs …

Shock in the Commons as an MP is accused of abusing doorkeeper during votes | Politics | News

Shock in the Commons as an MP is accused of abusing doorkeeper during votes | Politics | News

MPs reacted with shock and fury this evening after it was claimed one of their number swore at a House of Commons doorkeeper while voting. Amid tense votes over Lords amendments to the Government’s flagship Rwanda Bill, Deputy Speaker Sir Roger Gale warned of severe consequences if the MP is identified. Demanding silence from the chamber, an angry Sir Roger said: “Before we proceed, I’m informed a member swore at one of the doorkeepers this evening, who on my instructions locked the doors”. “If that person is identified, the consequences will be very severe.” The public warning prompted cheers of approval from MPs of all sides. However a short while later, the supposed culprit outed themself, though denied swearing at anyone in particular. Left-wing MP Clive Lewis stood up to make the confession, putting on the record his apology to MPs and members of staff “for an earlier outburst which I had”. He explained: “I received a message which caused me some consternation and surprise, to which I made an outburst in general to no-one …