MNI China Press Digest July 2: PBOC, FDI, Land Revenue

MNI: PBOC Net Drains CNY298 Bln Via OMO Tues; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

MNI: PBOC Sets Yuan Parity Higher At 7.1291 Tues; -0.09% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1291 TUES VS 7.1265

MNI China Daily Summary: Monday, July 1

June CPI Below Market Expectations, Headline Y/Y At 2.4%

MNI: UK JUN BRC SHOP PRICES -0.2% M/M, +0.2% Y/Y

Multivariate Core Trend Inflation Falls To Post-2020 Low

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

BoC Dep Gov Beaudry On Inflation

CANADA
  • Hitting at 1530ET yesterday, and after the CPI miss, BoC Dep Gov Beaudry noted that inflation is still too high but headed in the right direction, vowing to take “whatever actions” necessary to curb inflation.
  • Beaudry downplayed both the idea that Canada is entering a wage-price spiral, as some ex-advisers have argued and a risk scenario in the July MPR (which saw inflation only ease below 4% by end-2024), or the need for a recession to subdue inflation.
  • However, whilst Desjardins see the speech tilting “slightly dovish on the surface” with the Bank still aiming for a soft landing, “whatever actions” appears to introduce that it might take a recession to bring inflation down. It is slightly more hawkish than SDG Rogers’ remarks that the Bank remains “resolute” in tackling inflation or the statement that it would “take action as required”.
Homepage Bank of Canada Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.