MNI BRIEF: China Steel Market To Remain Subdued In August

MNI China Daily Summary: Thursday, August 1

MNI: BOE VOTES 5-4 FOR 25 BPS RATE CUT AT AUG MEETING

MNI BRIEF: CNB Cuts 2W Repo Rate By 25Bps To 4.5%

MNI BRIEF: Japan Q2 GDP To Rise 0.5% Q/Q; 2.2% Annualised

MNI BRIEF: China Retains Ample Policy Space In H2 – NDRC

US EIA:NAT GAS STORAGE +18 BCF TO 3,249 BCF JUL 26 WK

MNI: US JUN CONSTRUCT SPENDING -0.3%

MNI: US ISM JUL MANUF PURCHASING MANAGERS INDEX 46.8

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

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

JPM On CNB Meeting

CZECHIA
  • Better-than-CNB-forecast growth likely not enough to resolve board indecision.
  • CNB board members have displayed hesitancy between a small hike and unchanged rates next week.
  • Some have expressed their vote as data dependent, with the GDP print one of the elements to be factored in.
  • But, although last week’s numbers are better than expected by the official forecast, an annualized pace of 0.8%q/q saar is still a poor number, especially for country which is a clear regional laggard in the post-COVID recovery.
  • In that sense, the GDP data likely is insufficient to break the uncertainty.
  • Next week's is the most unpredictable CNB decision in a long while; JPM still expects a final 50bp hike (to 7.5%), but risks are obviously skewed for unchanged rates given the expressed preferences of the new Governor and the dark clouds gathering over the growth outlook.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.