MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

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

Core Goods Pipeline Pressures Pick Up On 3m/3m Basis

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

MNI: BELGIUM JUL BNB BUSINESS SURVEY -12.3

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

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Chair Powell Says FOMC Prepared To Raise Rates Further

FED
  • Powell: We see the current stance of monetary policy as restrictive. In addition the economy is facing headwinds from tighter credit conditions.
  • Powell goes through the SEP Dot Plot, says compared to June the dot forecast remains the same this year but has gone up 50bp for next 2 years, but of course not a FOMC decision or plan.
  • Given how far we have come, we are in a position to proceed carefully.
  • Real rates are now well above mainstream estimates of neutral but we are mindful of the inherent uncertainty in gauging the stance of policy.
  • We are prepared to raise rates further if appropriate, and we intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably to 2%. (Then repeats the Statement language on forward guidance).
  • Q&A begins
Energy BulletsCommoditiesFOMC Calendar Market News
Energy BulletsCommoditiesFOMC Calendar Market News

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