MNI China Press Digest July 15: Consumption, Exports, FDI

MNI: PBOC Conducts CNY100 Bln Via 1Y MLF; Rates Unchanged

CHINA PBOC CONDUCTS CNY129 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1313 Mon; -1.35% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1313 MON VS 7.1315

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

Q2 GDP Below Expectations, Consumer Side Still Appears Soft

CHINA JUN INDUSTRIAL OUTPUT +5.3% Y/Y VS MEDIAN +5.0% Y/Y: NBS

CHINA Q2 2024 REAL GDP +4.7% Y/Y VS MEDIAN +5.0% Y/Y: NBS

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BCB Minutes, National Monetary Council Meeting & QIR

BRAZIL
  • A busy calendar for Brazil this week, highlighted on the data front by mid-June IPCA inflation, due tomorrow. The headline rate is forecast to decline further to 3.37% Y/y, having printed at 3.94% in the full May reading.
  • Preceding the inflation figures, the BCB will release the Copom minutes from the June meeting. As a reminder, the Selic rate was kept unchanged at 13.75%, however, the language within the statement softened, paving the way towards an upcoming dovish pivot. Our full review of said meeting is here.
  • Perhaps more importantly, on Thursday the National Monetary Council will meet where broad consensus expects the committee to approve the inflation target for 2024/25 and keep the target at 3% for 2026. Analysts also believe the meeting could prompt a shift to a continuous inflation target, rather than a year-end based approach.
    • Goldman Sachs note that if the outcomes of this meeting do not unsettle markets, August will likely be a live meeting for policy easing.
  • Finally, the Q2’23 inflation report will show the BCB’s updated inflation forecasts for 2023, 2024 and 2025, which should remain in line with Copom statement´s numbers, as well as real GDP projections. Expect the report to delve deeper into the domestic and external balance of risks for both growth and inflation.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.