MNI: BOC Says Has Made Progress on Inflation, Must Finish Job

BOC SAYS HAS MADE PROGRESS ON INFLATION, MUST FINISH JOB

MNI EM China Daily Summary: Tuesday, March 26

MNI BRIEF: BCB Focus Survey Keeps Selic Forecast Unchanged

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CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS TUES

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Philly Fed Nonmanufacturing Weak Across The Board

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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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Dollar Bouncing Off Post-Fed Lows

FOREX
  • Following the post-Fed pullback, the greenback is the strongest currency in G10 so far this morning, although the rally remains contains and yesterday's highs for the USD Index are well out of reach for now.
  • Markets continue to digest Wednesday's FOMC decision, weighing the options after Powell defended the 50bps rate hike pace, but stated a 75bps move was not under consideration.
  • At the other end of the table, GBP underperforms, dipping ahead of the Bank of England rate decision and on local elections day, at which the opposition Labour Party are expected to make gains in Councillor seats, but stop short of gaining a significant number of overall councils.
  • Focus turns to the BoE rate decision, due at 1200BST. A 25bps hike is unanimously expected, with markets fully pricing 25bps with around a 20% probability of a 50bps hike. The focus will be on the vote split, the forward guidance and how far below 2% will the inflation forecasts be at market rates in 2/3 years time. Full MNI BOE Preview click here: https://marketnews.com/markets/central-bank-report...
  • On the data front, weekly jobless claims, are the highlight, with BoC's Schembri and ECB's Holzmann also due to speak.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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