MNI China Daily Summary: Tuesday, Aug 27

MNI BRIEF: Japan's July Trimmed Mean Rises 1.8% Vs. 2.1% - BOJ

MNI: PBOC Net Injects CNY323.4 Bln via OMO Tuesday

MNI BRIEF: China Urges Canada To Drop Additional EV Tariffs

MNI BRIEF: China Industrial Profits Expanded Further In July

MNI: PBOC Sets Yuan Parity Higher At 7.1249 Tues; +2.38% Y/Y

EZ/UK Bond Supply Calendar: Austria Synd; UK Auction Wednesday

MNI: US CONF BOARD CONSUMER CONFIDENCE 103.3 IN AUG V JUL 101.9

MNI: US Q2 FHFA HPI Q/Q SA +0.9% V +5.7% Q2 2023

UK: Week Ahead

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BOC: The First Hint Of Passive QT

CANADA
  • The BoC kept to its guidance that it will "consider exiting the reinvestment phase" once it begins to hike, as per at previous meetings including the October MPR.
  • There was a new additional that it will also consider “reducing the size of its balance sheet by allowing roll-off of maturing Government of Canada bonds” at the same time.
  • So, loose details on run-off, and passive as generally seemed to be expected, but with questions likely on the potential timing as to whether it could be with/after rate liftoff at the presser at 1100ET.
  • Limited market expectations beforehand were for runoff starting from 2H22 but with no clear call as to when it could formally be announced.
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