MNI China Daily Summary: Tuesday, July 30

MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI: EUROZONE Q2 PRELIM FLASH GDP +0.6% Y/Y

MNI: EUROZONE Q2 FLASH GDP +0.3% Q/Q

MNI: NORTH RHINE WESTPHALIA CPI +0.3% M/M, +2.3% Y/Y

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GS: Bring forward hikes: 25bp hike at every meeting to Aug; 1.75% by Nov

BOE
  • Goldman Sachs updated its BOE view just before yesterday's close: "We bring forward a couple of our projected hikes, and we now expect the BoE to raise Bank Rate in back-to-back meetings through August, taking Bank Rate to 1.5%."
  • "While we think the BoE will hit the stated 1% threshold in May, we do not expect active asset sales to begin until the summer." This view on active sales is unchanged.
  • "After the August meeting, we expect BoE to slow the hiking cycle, with Bank Rate reaching 1.75% in November and 2% in 2023Q2."
  • Goldman Sach's previous view was to expect further hikes in Mar22, May22, Nov22 (reaching 1.25%), May23, Nov23, May24 (to 2.00%).
  • "Given likely large impacts on lower income households from the cost-of-living squeeze, we shave our growth forecast modestly for 2022 (-0.1pp to 4.7%) and further out for 2023 (-0.2pp to 2.2%) and 2024 (-0.15pp to 1.5%)."
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.