MNI: PBOC Net Injects CNY47 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1285 Thurs; -1.29% Y/Y

MNI BRIEF: Aussie Employment Grows Stronger Than Expected

CHINA PBOC CONDUCTS CNY49 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1285 THU VS 7.1318

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

Australia Jun Unemployment Rate 4.0%

Japan Jun Exports +5.4% Y/Y; Imports +3.2% Y/Y

MNI:AUSTRALIA JUN UNEMPLOYMENT RATE +4.1%

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

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CNB To Continue Its Tightening Cycle Despite Covid Uncertainty and Political Pressure

CZECHIA
  • Czech President Milos Zeman appointed fiscally and socially conservative Petr Fiala as the next prime minister as the country grapples with surging inflation and one of the world's worst coronavirus outbreaks (BBG).
  • While Polish politicians and former governors/governors have been pressuring the NBP to start hiking rates quickly to curb the inflationary pressures, Czech politicians (former PM Babis and FinMin Schillerova) have been criticizing the CNB for hiking rates too aggressively.
  • However, CNB governor Rusnok rejected the criticism, mentioning that the central bank main objective and sole legal mandate is to keep inflation under control even though the tightening cycle could be seen as unpopular given the elevated uncertainty over the economic outlook.
  • CNB Mora also said recently that the CNB is ready to keep raising rates in line with the fall forecast despite Covid uncertainty.
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