MNI China Daily Summary: Wednesday, May 8

MNI BRIEF: BOJ To Allow Markets To Determine Long Rates-Ueda

MNI BRIEF: BOJ Would Adjust Rates Earlier If Necessary - Ueda

MNI BRIEF: China Attended DEPA Negotiations - MOFCOM

MNI: PBOC Net Injects CNY2 Bln Via OMO Weds; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1016 Weds; -4.20% Y/Y

US MBA: REFIS +5% SA; PURCH INDEX +2% SA THRU MAY 3 WK

MNI: US MBA: MARKET COMPOSITE +2.6% SA THRU MAY 03 WK

Strongest Manufacturing IP Since April 2008

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

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Chile and Brazil Central Bank Decisions Scheduled Shortly

LATAM
  • LatAm: Over to Latin America for the next interest rate decisions:
  • CHILE: The majority of analysts believe that the BCCh will accelerate the easing pace again today and cut the overnight rate by 100bp to 7.25% (2100GMT/1600ET). The larger-than-expected drop of inflation in December, decline of inflation expectations back to target and ongoing weakness in activity justify a further step up in the pace of easing. However, FX pressures and the potential desire for policy continuity has prompted some analysts to forecast another 75bp move.
  • BRAZIL: All surveyed analysts believe that the Copom will continue the easing cycle with another 50bp cut, bringing the Selic rate down to 11.25% (2130GMT/1630ET). Prior guidance in the December statement and most recent comments from central bank board members have reiterated that economic conditions remain consistent with this strategy.
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