MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

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 Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

INE Business Confidence Data Supports Upward Revisions In Q1 GDP Forecasts

MNI: GERMANY FEB PRODUCER PRICES -2.9% Y/Y

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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Finance Minister In Davos, BanRep Next Week

COLOMBIA
  • Finance Minister José Antonio Ocampo speaks at the events Reversing the Tide of Global Inequality and Is the World in a Debt Spiral? at the World Economic Forum. The Minister of Mines and Energy, Irene Vélez, also participates in the panel The Different Roads to Energy Transition.
  • The next BanRep meeting/decision falls on January 27. As a reminder, FM Ocampo commented to Reuters on Tuesday that the central bank does not need to raise the policy rate beyond its current level of 12% as inflation would have peaked.
    • It is worth noting that despite Ocampo being a member of the BanRep board, he also indicated that interest rates were “sufficiently high” back when the overnight rate was 200 bps lower at 10%. Market consensus for next week’s decision remains for a 100bp rate hike to 13.00%.
  • November economic activity data appears to be consistent with above-potential Colombian activity, but show it downshifting toward more sustainable levels after pandemic-related stimulus pushed it above capacity. It is falling earlier than the central bank expected, which may highlight downside risks to growth projections.
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