MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

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

Australia Jun Total Dwelling Approved -6.5%

MNI: AUSTRALIA MAY BUILDING APPROVALS -6.5% M/M, -3.7% Y/Y

MNI: AUSTRALIA JUN DWELLING APPROVALS -6.5% M/M

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

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BCRP Hike Could be Close to Peak of Rates Cycle

PERU
  • Peru’s BCRP raised the reference rate by 50bps overnight, alongside expectations, to 6.00%. In the accompanying statement, the bank see inflation easing from July onwards, although inflation expectations crept higher to 5.35% from 4.89%.
  • There remains some uncertainty over the pace of rate hikes beyond this month’s hike, after comments in June from BCRP head Velarde suggested focused on the BCRP’s early moves on rates vs. their regional and global peers, baking in the central bank’s view that inflation expectations will moderate later this year thanks to early action.
  • Nonetheless, the bank retained the view that inflation will return to target by Q2-Q3 next year.
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