MNI China Daily Summary: Friday, April 12

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

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

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA END-MAR M2 +8.3% Y/Y VS MEDIAN +8.8%; END-FEB +8.7% Y/Y

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

Final March Inflation Reading Confirms Softening Core Dynamics

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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CNB To Continue Rising Rates in H2 2021 (CB Chief Rusnok)

CZECHIA
  • CNB Chief Rusnok mentioned in a press conference in Prague (following CNB decision) that it is possible that the Czech central bank will raise interest rates at every coming meetings, implying four additional hikes for this year, which would bring the benchmark rate up to 1.50%.
  • Four member voted for a 25bps increase, one for 50bps hike and two members voted for leaving rates unchanged.
  • With the Czech FRA 6Mx9M trading at 68bps above the Pribor 3M, the market is currently pricing 2 to 3 hikes in H2 2021.
  • Momentum on CZK strengthens following Rusnok comments with USDCZK approaching its 50D SMA at 21.15; next support to watch on the downside stands at 21, followed by 20.76.
Find CNB statement here:

https://www.cnb.cz/en/monetary-policy/bank-board-d...


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