MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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National And RBC Below Consensus Jobs Growth On Lack Of Supply

CANADA
  • National expect job creation to still be more modest given the limited numbers of workers still on the sidelines, seeing job growth of 20k in May (cons. 27.5k) after April’s 15k.
  • Assuming an unchanged participation rate at 65.3%, that would leave the u/e rate at 5.2%.
  • RBC similarly expect jobs growth to match April’s 15k, but not from any shortfall in demand where job openings are running ~70% above pre-pandemic levels.
  • The u/e rate touched 5.2% in April, the lowest since at least 1976, so RBC expect additional demand for workers from now on to show up in wage growth than employment counts.
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