MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

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

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Fed Nomination Hearing

US

Chair Sherrod Brown (D-OH) has introduced the committee hearing by attacking the recent political debate surrounding the nomination of Sarah Bloom Raskin.


  • Expects all three nominations to be confirmed by the Senate.
  • Bloom Raskin is the most qualified nominee to come in front of the committee.
  • The recent Republican allegations on her being a radical choice are unfounded.
  • She has been confirmed with bipartisan support to two previous posts.
Response from ranking Republican Pat Toomey:
  • The Fed should not be a political position.
  • Difficult choices on climate should be made by lawmakers who can be held accountable.
  • Fed is already engaging in activity beyond its mandate. Potential for abuse (by both parties) is limitless.
  • Cites the NYT oped which Bloom Raskin called oil and gas a 'dying industry'.
  • Raskin wants to misuse banking regulatory powers to legislate climate agenda.
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