MNI China Daily Summary: Wednesday, July 31

MNI BRIEF: BOJ To Raise Further, No Clues on Timing - Ueda

MNI BRIEF: BOJ's FY26 Inflation View Flat; Upside Risk To FY24, 25 Prices

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

MNI BRIEF: China July PMI Contracts For Third Straight Month

Blinken-US Uninvolved & Unaware Of Haniyeh Elimination Beforehand

MNI: US MBA: MARKET COMPOSITE -3.9% SA THRU JUL 26 WK

US MBA: REFIS -7% SA; PURCH INDEX -2% SA THRU JULY 26 WK

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

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BoK Gov. Reassures Over Recovery, Notes Hawkish Dissent

SOUTH KOREA

BoK Governor Lee sought to reassure markets that the economic recovery is still on track. The governor said CPI could exceed 2% in the short term and the Bank is keeping an eye on that, also noting the virus resurgence won't impact economic growth too severely compared with last year. He did note there could be a slowdown in consumption, but the Bank has maintained its 4% growth forecast and noted that the extra budget should help protect the economy.

  • The most notable bit of information from the Governor was that one MPC member called for a 25bps hike, an unexpected hawkish dissent. Lee also said that the need for policy normalization was increasing due to financial imbalances, such as home prices and household debt.
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