MNI China Daily Summary: Wednesday, June 19

MNI BRIEF: Rate Changes Affect Eurozone More Than US Firms-ECB

MNI BRIEF: BOJ May Real Export Index Drops 1.4% M/M

MNI BRIEF: PBOC, MOF To Promote Treasury Trades Progressively

MNI: PBOC Net Injects CNY276 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY278 BILLION VIA 7-DAY REVERSE REPOS WEDS

US MBA: REFIS -0.4% SA; PURCH INDEX +2% SA THRU JUNE 14 WK

MNI: US MBA: MARKET COMPOSITE +0.9% SA THRU JUN 14 WK

MNI: EUROZONE APR CONSTRUCTION OUTPUT -0.2% M/M, -1.1% Y/Y

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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BULLET: CANADA BOC: Maintains rate target at 1.75%, drops....> 

CANADA BOC: Maintains rate target at 1.75%, drops stimulus phrase
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- "All things considered, Governing Council judges it appropriate to 
maintain the current level of the overnight rate target." In Sept. said 
"current degree of monetary stimulus remains appropriate."
- "Governing Council is mindful that the resilience of Canada's economy 
will be increasingly tested as trade conflicts and uncertainty persist. 
In considering the appropriate path for monetary policy, the Bank will 
be monitoring the extent to which the global slowdown spreads beyond 
manufacturing and investment."
- Trade war hurting Canadian business investment, exports and energy 
sector investment. 
- Economic growth for 2019 revised up (from 1.3% to 1.5%), revised 
down for 2020 (from 1.9% to 1.7%).
- Expected GDP growth implies narrower output gap. 
- BOC expects inflation tracking close to 2%; temporary downside 
pressure seen in 2020. 
- Trade policy risk is two-sided but tilted to downside.
- Canadian dollar has strengthened against other currencies; the 
Canada-US exchange rate remains near July level. 
- MNI Median was for rate to remain 1.75%.
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