BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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

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Brazil Markets Reopen, Colombia Production & Retail Sales Data

LATAM
  • A quiet end to the week in LatAm with just production and retail sales data from Colombia. Brazil markets will reopen following yesterday’s holiday.
  • House Majority Leader Steve Scalise (R-LA) yesterday withdrew his candidacy for speaker of the House of Representatives after a short campaign which failed to garner sufficient support. House Judiciary Committee Chair Jim Jordan (R-OH) now becomes the presumptive frontrunner.
  • ECB Governing Council member Klaas Knot told ANP that officials are likely to keep interest rates at their current high level for at least a year, sticking to his typically hawkish stance. He went on to stress that "the market is pricing in another rate cut for the middle of next year. But I think that is still too early."
  • MNI (Beijing) China's Consumer Price Index was flat in September, while the Producer Price Index measuring factory-gate inflation saw annual declines slow for a third month, data showed on Friday. China foreign trade jumped to its highest level this year in September, expanding 5.5% m/m in yuan terms, the second consecutive monthly gain.
  • Separately, China is considering forming a state-backed stabilization fund to shore up confidence in its $9.5 trillion stock market, according to people familiar with the matter. After at least two rounds of consultation with industry participants over a period of months, financial regulators including the China Securities Regulatory Commission recently submitted a preliminary plan to the nation’s top leadership, said the people, who asked not to be identified discussing a private matter.
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