MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Higher At 7.1058 Thurs; -4.80% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1058 THURS VS 7.1048

MNI China Daily Summary: Wednesday, April 24

MNI BRIEF: China Steel Demand Q2 Limited Rebound

France Manufacturing Sentiment Reverses Year-To-Date Gains

MNI: FRANCE APR MANUF SENTIMENT AT 100

US Treasury Auction Calendar

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Central Bank On Hold At 7.75%, In Line With Expectations

PERU
  • The central bank committee agreed to maintain the reference rate at 7.75% at the March meeting, in line with all surveyed analysts forecasts prior to the decision.
  • The statement reiterated that this outcome does not necessarily mean the end of the tightening cycle and that future adjustments in the reference rate will be conditional on new information on inflation and its determinants, including the macroeconomic effects of recent social unrest.
  • Interestingly, the statement does include that the BCRP estimates “the monthly rate for March would be higher than in previous months due to conjunctural and seasonal factors”. Analysts note that this acknowledgement decreases the likelihood of a high March CPI print affecting the BCRP’s reaction function for April’s decision. After this, a downward trend in year-on-year inflation is projected from March with a projected return to target range in the Q4 2023.
  • The statement acknowledges that 12-month inflation expectations decreased from 4.62% in January to 4.29% in February, and the expectation of inflation for 2023 also decreased from 4.73 to 4.50%. On the activity front, most of the leading indicators and expectations about the economy recovered in February, although it remains in the pessimistic range.
  • At midday local time, the BCRP will hold a press conference to discuss Thursday’s decision. The central bank board’s next monetary policy meeting/decision will take place on April 13, 2023.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.