MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

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Broadbent: Strongest Growth Likely In Previously Hard-Hit Sectors

BOE

Q: Does that bank have any estimate on the stock of savings?

  • A (Bailey): We said in February it has gone up. It is probably likely that the rate of increase in savings has reduced. It's the flip side of the increase in spending.
Q: Do you have any view on which sectors might benefit from the uptick in spending? Can you talk about green goals at the BoE?
  • A (Broadbent) re sectors: We don't have a specific forecast. The sectors hit hardest will likely see the strongest growth as the economy recovers.
  • A (Ramsden) re green goals: We welcome the change to the remit in March. We had been working on a framework for the corporate purchase scheme to take that into account. We are going to be providing an update in terms of a discussion paper on the proposed framework later in the month. We want a sustained reach out period.
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