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[UK Unemployment Rate Stable, Bank of England May Hold Interest Rates] 1. The UK unemployment rate remains stable, and wage growth has slowed slightly, which may prompt the Bank of England to maintain its key interest rate unchanged at this month's meeting. 2. The UK unemployment rate was 4.7% in the three months ending July, unchanged from the previous two months. The UK Office for National Statistics announced on Tuesday that the key wage indicator, excluding bonuses, rose by 4.8% year-on-year during the same period, down slightly from 5.0% in the previous period. The job market showed signs of cooling, with employment falling by 8,000 from July to August, following a drop of 6,000 in the previous month, and the unemployment rate rising from 4.1% in the same period last year. 3. Investors expect the Bank of England to maintain its key interest rate at 4% at its upcoming meeting on Thursday. Since August of last year, the Bank has adopted a "cautious and gradual" interest rate cut strategy, with a 0.25 percentage point cut last month. Bank of England Governor Andrew Bailey stated that the timing and pace of future rate cuts remain uncertain. 4. Despite the slowdown in wage growth, inflationary pressures remain, with inflation expected to reach 4% in September, far exceeding the 2% target, primarily due to policies such as rising water prices and employer payroll taxes. Suren Thiru, head of economics at the Institute of Chartered Accountants, noted that the degree of labor market slack is insufficient to trigger a new round of easing policies, and the likelihood of an interest rate cut is low.

ASEAN Becomes Ningbo's Second-Largest Trading Partner: According to Ningbo Customs, from January to August this year, total import and export trade between Ningbo and ASEAN reached 139.62 billion yuan, a year-on-year increase of 16.6%. Imports reached 62.7 billion yuan, a year-on-year increase of 13%, and exports reached 76.92 billion yuan, a year-on-year increase of 19.8%. This marks the first time that ASEAN has become Ningbo's second-largest trading partner. Ningbo, with its port advantages and comprehensive automotive industry chain, is becoming the preferred gateway for ASEAN auto parts to enter the Chinese market. Furthermore, the well-developed manufacturing base in Ningbo and surrounding areas, particularly in textiles and electronics, complements the industries of ASEAN countries.

[ECB Governing Council member Kazaks: There is no reason to cut interest rates at the moment] ECB Governing Council member Kazaks said that there is no need to cut interest rates at the moment. In an interview with TV24 on Tuesday, he said: "The current inflation rate is around 2%, and economic growth can be described as weak. There is no reason to cut interest rates at this stage." Before these remarks were made, the ECB kept borrowing costs unchanged for the second consecutive meeting last week. Most policymakers believed that there was no need for further interest rate cuts, but at the same time reserved the option to take action if necessary. Kazaks emphasized: "Given the high uncertainty in the global economic situation, especially geopolitics, and the various risks that still exist, the central bank is closely monitoring economic developments and will make the necessary decisions." He specifically pointed out that "if this uncertainty is taken into account, coupled with further economic weakness, or inflation begins to fall significantly below the target level of 2%, the ECB may also implement an interest rate cut."

Bank of Thailand Governor: Fiscal policy space is limited

[Institution: The Federal Reserve is expected to cut its policy rate by a cumulative 75 basis points in 2025] Kaspar Hense of RBC BlueBay Asset Management said that the Federal Reserve is expected to cut interest rates by a cumulative 75 basis points this year. This expectation is largely consistent with the market view reflected in data from the London Stock Exchange Group. The senior fund manager said that a 25 basis point rate cut this week is "basically a done deal." He said: "We have also seen the most accommodative members of the Federal Open Market Committee (FOMC) hint at a 25 basis point rate cut." He also said that although there have been some signs of weakness in the labor market, overall growth is still not too weak. He said that the weakness in the labor market partly reflects the impact of restrictions on immigration.

Bank of Thailand Governor: Ratings could be downgraded if fiscal situation does not improve