MNI: PBOC Net Injects CNY214 Bln Via OMO Tues; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1225 Tues; -0.94% Y/Y

CHINA PBOC CONDUCTS CNY300 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1225 TUES VS 7.1201

MNI China Daily Summary: Monday, June 24

MNI BRIEF: China Urges Removal Of Car Buying Restrictions

MNI BRIEF: Japan May Services PPI Rises 2.5% Vs. April 2.7%

MNI: JAPAN MAY SERVICES PPI +2.5% Y/Y; APRIL  +2.7%

Consumer Sentiment Firms, Inflation Expectations Ease Back To 3.0%

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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Macklem Looks To Businesses To Improve Innovation To Help Productivity

CANADA

Speaking in the Q&A in Calgary, Macklem notes that businesses are very good at growing by expanding the number of workers… but our Achilles Heel is productivity (something we touched upon here after yesterday's eye-catching Q2 report).

  • It’s a massive topic and not a new issue.
  • There are some structural issues that won’t get changed anytime soon: we’re a large country with big transportation costs, we have a lot of SMEs which don’t have the resources to invest as much.
  • What could be changed a little quicker: We saw through the pandemic how innovative the business sector could be. [Talking to businesses] You were investing in new digital technologies even in the depths of a recession and we need to see that spirit.
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