The Bank of Russia: Restoring sustained low inflation requires prolonged high interest rates. The normalization of budgetary policy will become more apparent in the coming months, which will be crucial for slowing inflation.

European stocks widened their decline in the late trading, with the DEGUODAXZHISHU down 0.83%, the UK FTSE100 Index down 1.02%, the France CAC40 Index down 0.98%, and the Europe STOXX 50 Index down 1%.

President Ren Hongbin of the China Council for the Promotion of International Trade conducted research at CHINA COMM CONS.