MNI: PBOC Drains Net CNY248 Bln Via OMO Weds; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.0949 Weds; -4.77% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.0949 WEDS VS 7.0957

MNI China Daily Summary: Tuesday, April 2

MNI BRIEF: China to Incentivise Equipment Upgrades, Trade-Ins

Seasonally Adjusted CPI Series: Flat Core Goods, Higher Services

EZ/UK Bond Supply Calendar: Belgian 30Y USD and Bund Auction Weds

MNI: US BLS: JOLTS QUITS RATE 2.2% IN FEB

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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Current Account Deficit Widens Beyond Expectations in December

TURKEY
  • Turkey’ posted a $48.8b current account deficit in 2022, according to data released by the Turkish central bank on Monday. The deficit widened to $5.91b (Est, -$5.45b) in December from a revised -$4.05b in November. Retail sales rose 21.8% y/y in December versus revised +11.8% in November.
  • The government may increase taxes on consumption goods including alcohol and tobacco to meet economic toll from two earthquakes which is estimated to be $100b, Bloomberg report citing Istanbul Analytics. Reconstruction costs will be around $85-90b, according to a report written by Istanbul Analytics Economist Guldem Atabay, who says “The government is likely to meet some of the $100b toll by increasing taxes.”
  • Bloomberg report that legal activists have blamed the government of blatantly covering up evidence by hastily demolishing a one-story state building, housing concrete samples and files about collapsed buildings. The country’s urbanization ministry denied the allegations. Meanwhile, at least 34 contractors are being investigated for potentially shoddy construction work, Turkish Justice Minister Bozdag said. The combined death toll in Turkey and Syria stands at nearly 35,000.
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