MNI China Daily Summary: Tuesday, July 16

MNI: PBOC Net Injects CNY674 Bln Via OMO Tue; Rates Unchanged

MNI China Press Digest July 16: LPR, Q2 Data, Property

MNI: PBOC Sets Yuan Parity Higher At 7.1328 Tue; -1.79% Y/Y

CHINA PBOC CONDUCTS CNY676 BILLION VIA 7-DAY REVERSE REPOS TUE

CHINA SETS YUAN CENTRAL PARITY AT 7.1328 TUE VS 7.1313

TLFS update on Thursday

MNI: GERMANY JUL ZEW CURRENT CONDITIONS -68.9

MNI: GERMANY ZEW JUL ECONOMIC EXPECTATIONS 41.8

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

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

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  • There are generally assumed to be upside risks to inflation (from the Swift concerts primarily) but after the initial impact, if this was the driver and the rest of the print is not higher-than-expected we would expect some relief.
  • We look at the impact of Beyonce's concerts last year on CPI - and what a similar impact would do this year.
  • We think there are upside risks to private sector regular wage growth relative to consensus and in fact think an unchanged print of 5.8%Y/Y in the 3-months to May is more likely than a print in line with consensus of 5.6%Y/Y.
For the full document including summaries of sellside views for inflation and the labour market see the full PDF here.
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  • There are generally assumed to be upside risks to inflation (from the Swift concerts primarily) but after the initial impact, if this was the driver and the rest of the print is not higher-than-expected we would expect some relief.
  • We look at the impact of Beyonce's concerts last year on CPI - and what a similar impact would do this year.
  • We think there are upside risks to private sector regular wage growth relative to consensus and in fact think an unchanged print of 5.8%Y/Y in the 3-months to May is more likely than a print in line with consensus of 5.6%Y/Y.
For the full document including summaries of sellside views for inflation and the labour market see the full PDF here.