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Traders have reduced their bets on the easing policy of the European Central Bank, and it is now expected that the interest rate reduction will be less than 125 basis points in 2025.Li Guangzi, director of the Banking Research Office of the Institute of Finance of China Academy of Social Sciences: The risk of small and medium-sized financial institutions is the focus of risk disposal in the coming period. Li Guangzi, director of the Banking Research Office of the Institute of Finance of China Academy of Social Sciences, told reporters that with the implementation of the policy package to resolve local government debt risks, the local government debt risks have obviously converged recently. In contrast, risks in real estate and small and medium-sized financial institutions are still outstanding. In this context, the meeting took the risks of real estate and small and medium-sized financial institutions as the focus of risk disposal in the coming period, which made clear the focus and pointed out the direction for further financial risk disposal. Especially in the field of real estate, because of its long adjustment cycle and wide coverage, it is still the top priority of risk disposal. (SSE)Lou Feipeng, a researcher at the Postal Savings Bank: Strengthen the prevention and resolution of risks in the fields of real estate and small and medium-sized financial institutions. Lou Feipeng, a researcher at the Postal Savings Bank, told reporters that it is necessary to strengthen the prevention and resolution of risks in the real estate field and small and medium-sized financial institutions under the circumstances that a clear plan has been issued for the resolution of local government debt risks and targeted measures have been taken. (SSE)

GBP/USD fell more than 0.50% in the day, and now it is reported at 1.2687.As of the close of 23:00, the main domestic futures contracts fell more and rose less. No.20 rubber fell by nearly 3%, BR rubber fell by nearly 2%, and rubber, caustic soda, vegetable oil, rapeseed meal and hot coil fell by over 1%. In terms of increase, palm oil rose by nearly 1%.Traders have reduced their bets on the easing policy of the European Central Bank, and it is now expected that the interest rate reduction will be less than 125 basis points in 2025.

Some taxis in Kunming spontaneously cut prices to save passenger flow. Officially, personal behavior is not illegal, and unified price adjustment opinions are being sought. Recently, the relevant departments in Kunming issued a notice to solicit suggestions for preferential freight rates in view of the decreasing number of taxi customers. At present, before the deadline for consultation, some taxi drivers in Kunming have started to cut prices spontaneously, and the starting price has dropped from 10 yuan to 6 yuan. The staff of Kunming Transportation and Port and Shipping Development Center said that there is no unified price reduction for the time being, and the opinions of freight rate preferential activities are being sought. They know that some drivers cut prices spontaneously, which is a personal act and not a violation. Regarding the preferential activities, the latest news will be announced in time. (Extreme News)Russian officials: The failure of sanctions against Russia to achieve geopolitical goals will cost the EU 1.5 trillion euros. On the 12th local time, Russian Deputy Foreign Minister Grushko said that Russia has adapted to various sanctions and will develop relations with all countries willing to cooperate. He said that the EU is on a road of self-destruction, and any geopolitical goal cannot be achieved through sanctions. If the EU wants to refuse cooperation with Russia, this is the EU's choice, but most assessments show that this choice has caused the EU to suffer a loss of 1.5 trillion euros.Institution: The European Central Bank may further cut interest rates by 100 basis points in 2025. Des Lawrence, an analyst at State Street Global Investment Management, said that after the European Central Bank cut interest rates by 25 basis points, it may cut interest rates by another 100 basis points in 2025. The senior investment strategist said in a report that the European Central Bank can and should cut interest rates further in the coming quarters. Lawrence said that the recent PMI data shows that the economic slowdown is expanding beyond the troubled manufacturing industry, and the service industry is also under pressure.