BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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

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Greenback Moderately Firmer As Russia Suspends Strategic Arms Treaty

EMERGING MARKETS
  • Russia: In a major speech in Moscow, President Vladimir Putin claimed that the West was responsible for "fuelling the Ukrainian conflict." Putin has also announced that Russia will suspend participation in Strategic Arms Treaty. The withdrawal from the New Start arms-control treaty would mean nuclear inspectors from US would not be able to inspect Russian sites, and vice versa, removing a key element of transparency.
  • Each of the French, German, and Eurozone composite PMIs beat expectations (though services did the heavy lifting, with manufacturing disappointing), followed by a much stronger-than-expected UK print which has sent GBP to the top of the G10 FX rankings on Tuesday.
  • China’s central bank should avoid overly expansionary monetary easing and make only temporary use of its targeted tools given the economy could grow at up to 6% this year as pent-up demand fuels a recovery, a former People’s Bank of China adviser told MNI.
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