MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

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MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

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MNI: FRANCE JUL MANUF SENTIMENT AT 95

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

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Chair Powell Asked on QT Taper Discussions

FED
  • Q: When you say fairly soon on QT taper, do you mean May? Could you describe the scope of discussion?
    • A: That is what we're discussing - not all the other many balance sheet issues, we will discuss those in due course. We're looking at slowing the pace of runoff. I don't want to give a specific number because we haven't made a decision. In terms of timing, I would say "fairly soon" - I don't want to be more specific than that.
    • We may be able to get to a lower level of reserves because we could avoid the kind of frictions that can happen. Liquidity is not evenly distributed in the system. We're looking at what would be a good time and a good structure.
    • Our longer-run goal is to return to a mostly Treasury balance sheet. I expect that once we're through this we'll come back to other issues re composition and maturities - but that's not urgent right now.
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