MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

Indonesian Sov Curve Flattens, Barclays See BI Cutting Next Week

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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Mann sounds a long way from a hike

BOE
  • Mann sounded like she wasn't even compemplating voting for a hike with the uncertainty of the Omicron variant: "There's a lot of information to come with regards to Omicron, so its premature to even talk about timing" - in regards to a question regarding the size of the first hike.
  • Mann being asked on Omicron again: She says the area the Bank had expected demand to grow would be a rotation to services from goods as people go out more. If Omicron sees us "hauled up in our houses...we may not see some of the moderation in goods prices." Also points to risks of Asian lockdowns keeping supply chains tight.
  • There was limited market reaction as Mann is generally viewed as relatively dovish on rates (despite the fact she voted to end QE early in November due to concerns over asset prices).
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