MNI China Press Digest July 18: PBOC, Beijing, Arctic Shipping

MNI: PBOC Net Injects CNY47 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1285 Thurs; -1.29% Y/Y

CHINA PBOC CONDUCTS CNY49 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1285 THU VS 7.1318

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

Australia Jun Unemployment Rate 4.0%

Japan Jun Exports +5.4% Y/Y; Imports +3.2% Y/Y

MNI:AUSTRALIA JUN UNEMPLOYMENT RATE +4.1%

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

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Bostic Reaffirms His Position At Dovish End Of FOMC

FED
  • Bostic (’24 voter) has pre-empted a speech on the economic outlook later today in Dublin at 1500ET, by offering relatively dovish comments. Pertinent points:
  • FED’S BOSTIC SAYS HAVE HEARD A DECIDED CHANGE FROM EMPLOYERS IN LAST EIGHT WEEKS, LABOUR MARKETS NOT AS HORRIFICALLY TIGHT - RTRS
  • Bloomberg: *FED'S BOSTIC: ONLY BEEN IN RESTRICTIVE TERRITOTRY FOR 8-10 MTHS - BBG
  • *FED'S BOSTIC: DON'T SEE AS MUCH URGENCY TO MOVE AS OTHERS - BBG

  • Whilst it chimes with his remarks from Jun 23 that he sees rates on hold through the rest of this year, it clearly puts him at the dovish end of the FOMC with just two dots from the June FOMC SEP for such a view. Powell in the past two days has keenly pointed out that the majority of the FOMC sees 2 or more rate hikes by year-end (four in the dots see just one additional hike).
Energy BulletsCommoditiesFOMC Calendar Market News
Energy BulletsCommoditiesFOMC Calendar Market News

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