$BTC 4, but the next key event is the Federal Reserve meeting, and the focus will be on Powell's attitude in his statements.
Now let's talk about our core data:
First, the deficit rate is set at 4%. Previously, we were mainly at 3, marking the first increase in the deficit rate in recent years. To clarify, this indicates that the government is willing to take responsibility, meaning they are willing to inject liquidity.
Second, the inflation target is set at 2%. Previously, it was 3, but now the monthly CPI is around 0.x, making a target of 3 too distant.
This adjustment of the target is a positive sign, indicating that the higher-ups have recognized and are facing the issues. This is a very significant positive development.
Third, the issuance of 1.3 trillion in special government bonds, which is slightly less than market expectations, but there is a noteworthy point: this time, 500 billion was issued to support state-owned large commercial banks in replenishing their capital.
There are rumors of rescuing the banks, and this has come to fruition. Why do banks, which are making substantial profits daily, still need to issue bonds? Because although banks are profitable, they also bear the significant burden of real estate issues. Rescuing the real estate sector is too challenging, so it's better to support the banks as a backup.