MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

MNI BRIEF: Fed's Bowman Says Policy Appears To Be Restrictive

MNI BRIEF: Japan June Tokyo Core CPI Rises 2.1% Vs. May 1.9%

Japan May Ind. Output 2.8% M/M; Shipments +3.5% M/M

MNI BRIEF:Japan May Factory Output Hits First Rise in 2 Months

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

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

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Chair Powell Begins Press Conference

FED
  • Colleagues and I strongly committed to bringing inflation back down to our 2% goal. We have the tools and the resolve that it will take. Price stability the bedrock of our economy, without it the economy does not work for anyone. (Very similar language to previous).
  • " We are moving our stance to a level that will be sufficiently restrictive to return inflation to 2%."
  • Powell goes through the economic landscape as usual:
  • Economy has slowed from the high growth of 2021. Recent indicators point to modest growth. Consumer spending growth slowed. Housing sector activity weakened, in large part reflecting higher mortgage rates. Higher interest rates appear to be weighing on biz investment, while weaker growth abroad is restraining exports.
  • FOMC have marked down projections for grwoth; despite slowdown labor market has remained tight, unemp near 50-year low, vacancies at hisotrical highs, wage growth elevated. Job gains have been robust; labor market continues to be out of balance. Participation rate showed welcome uptick in August, but little changed since start of year.
  • "FOMC participants expect supply and demand conditions in the labor market to come into better balance over time, easing pressure on wages and prices."
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