Shibor unavoidably has loopholes, so it’s natural that some new products are based on benchmarks other than Shibor, such as the 7-day repurchase rate. We shall be open to such products from a commercial perspective because everything that exists must have a reason. These benchmarks may compete with Shibor in a meritorious manner.
However, layoffs diminished noticeably in January, and employment turned up last month. Moreover, initial claims for unemployment insurance have decreased markedly, on balance, providing further evidence of an improvement in labor market conditions. The dynamics of inventory investment and the balance of factors influencing consumer demand will have important consequences for the economic outlook in coming months.