MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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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CPI Data Due Tuesday, BCRA Meeting

ARGENTINA
  • Tomorrow, the official statistical agency will publish the National CPI for January 2023. According to price-tracker Eco Go consulting, consumer prices will have increased 5.9% M/m. If this estimation is correct, the year-over-year reading will jump to 98.6% from 94.8% in December of 2022.
  • Economic conditions continue to warrant additional rate hikes in Argentina, however analysts remain sceptical on whether Argentina’s Central Bank monetary policy meeting will deliver any new information.
  • Since early 2022, the BCRA usually adjusted policy in the first meeting after the release of the monthly CPI print. It has skipped this on occasion, so an announcement isn’t a certainty. The monetary authority has held the policy rate at 75% since September.
  • Separately, Economic Planning Secretary Gabriel Rubinstein said in a column published in Infobae that Argentina’s economic policy requires “creativity” as well as better macroeconomic policies and management.
    • “We have the necessary tools to avoid any default scenario”.
    • Debt buyback will be “complemented by other measures” yet to be announced.
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