MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

MNI: BANK OF KOREA KEEPS POLICY RATE AT 3.50%: PRESS

Japan May Machine Orders -3.2% M/M

MNI JAPAN MAY CORE MACHINE ORDERS -3.2% M/M; APRIL -2.9%

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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

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

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CANADA
  • Likely a two-part affair with the statement-only release on Wed followed by Governor Macklem potentially fleshing out balance sheet runoff plans in the subsequent Economic Progress Report on Thu, before further commentary in front of the House of Commons.
  • Analysts unanimously expect the BOC to commence the hiking cycle with a 25bp hike, surveyed prior to the latest repricing of rates globally which has seen the OIS hike expectations slashed to 20bps for the meeting.
  • Potential market implications are hard to gauge when approaching the meeting with such a fluid market environment but the size of the rally in rates on Tuesday could leave even broadly-as-expected guidance being treated as if it was hawkish.

The full note including MNI analysis, the return of Instant Answers and views of 13 sellside analysts can be found here: https://marketnews.com/mni-boc-preview-mar-2022-lift-off

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