MNI China Daily Summary: Monday, October 14

MNI BRIEF: China Sep M2 Rises To Four-Month High

MNI BRIEF: China Foreign Trade Grow Steady; Exports +4.3% YTD

MNI BRIEF: China Foreign Trade Facing Pressure In Q4

CHINA YTD NEW LOANS CNY16.0 TRLN VS MEDIAN CNY16.3 TRLN: PBOC

CHINA SEP EXPORTS +2.4% Y/Y VS MEDIAN +6.0% Y/Y: CUSTOMS

EZ/UK Bond Supply Calendar: Luxembourg Synd; UK, FI Due Tuesday

MNI: CHINA YTD EXPORTS +6.2% Y/Y IN YUAN TERM: CUSTOMS

MNI BRIEF: China Sep CPI Slows To 0.4% Y/Y On Base Effects

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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CANADA: RBC See Traditional Core Inflation Steady At 2.4% Y/Y

CANADA
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  • RBC expect “falling energy prices in September likely pushed Canadian inflation even lower than in August when the headline consumer price index fell to the BoC’s 2% target for the first time in more than three years.”
  • They see headline CPI easing two tenths to 1.8% Y/Y, “while the sub-index that strips out more volatile food and energy components held steady at 2.4%.”
  • “BoC’s preferred core inflation measures (CPI trim, median and ‘supercore’) are expected to on balance have dropped lower on a three-month annualized basis. This signals price pressures continued to unwind in line with a very weak near-term outlook for the economy. GDP growth in Q3 is on track to disappoint, even with the population still growing at an abnormally fast rate.”
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  • RBC expect “falling energy prices in September likely pushed Canadian inflation even lower than in August when the headline consumer price index fell to the BoC’s 2% target for the first time in more than three years.”
  • They see headline CPI easing two tenths to 1.8% Y/Y, “while the sub-index that strips out more volatile food and energy components held steady at 2.4%.”
  • “BoC’s preferred core inflation measures (CPI trim, median and ‘supercore’) are expected to on balance have dropped lower on a three-month annualized basis. This signals price pressures continued to unwind in line with a very weak near-term outlook for the economy. GDP growth in Q3 is on track to disappoint, even with the population still growing at an abnormally fast rate.”