MNI BRIEF: Japan July Tokyo Core CPI Rises 2.2% Vs. June's 2.1%

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MNI China Daily Summary: Thursday, July 25

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

Japan Tokyo Jul Core CPI +2.2% Y/Y

MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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

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Koruna Strengthens As Dust Settles After CNB Rate Decision

CZK

EUR/CZK has lost ground today and last changes hands -0.035 at CZK23.701. Bears look for a sell-off past Jun 6 low of CZK23.510, while bulls see Mar 17 high of CZK24.137 as their near-term target.

  • The CNB yesterday kept interest rates unchanged, with the vote split shifting to 5-2 from 4-3 as one hawkish dissenter tweaked their call. Meanwhile, Governor Ales Michl continued to lean against "premature" rate-cut bets, reiterating that interest rates will likely need to remain higher for longer.
  • Former CNB Governor Jiri Rusnok told FinTag that Czech inflation could drop to +2% Y/Y next year but "the question is whether it will stay there and for how long (...) it will be about what is the new normal." Former central bank head suggested that the government should have been more fiscally conservative last year, while the current CNB leadership should have raised rates even in 2H2022.
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