MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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

BCCh April Review – Analyst Views

CHILE
  • **Goldman Sachs: Overall, Goldman Sachs’ reading of the post-meeting statement is hawkish and their view for the path of monetary policy is biased towards delaying cuts. Still, as inflation and inflation expectations consolidate a trend downwards and the positive output gap narrows, they expect the central bank to be able to move its nominal policy rate lower later in the year while upholding a restrictive monetary stance.
  • **Itaú expect the 1Q IPoM to revise activity and inflation up for this year, with the monetary policy corridor signaling gradual cuts beginning by June at the earliest. On the political front, the one-year hiatus for the full pension fund withdrawal discussion is met on April 18, suggesting political noise will be elevated as some congressmen prepare to present further withdrawals. The government is against new withdrawals, but low approval ratings, weakening economy and elevated inflation mean calls for greater stimulus will grow.
  • **JPMorgan: In all, the message of the Board is for the policy rate to be stable for longer, making unlikely the easing JPM had in their base case scenario for late 2Q23. They thus wait for the information embedded in the policy report today in order to reassess on the monetary policy ahead. The prior is for pushing the start of the easing cycle to 3Q23, and likely incorporating a more aggressive easing pace than what JPM had anticipated.
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.