MNI China Press Digest July 2: PBOC, FDI, Land Revenue

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CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

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CHINA SETS YUAN CENTRAL PARITY AT 7.1291 TUES VS 7.1265

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Markets Await CBC Rate Announcement

TWD

Taiwan dollar is weaker today, USD/TWD moving higher as a function of a stronger greenback post-FOMC. The pair is on track to post three consecutive sessions of gains.

  • Markets await the CBC rate announcement later today. All analysts surveyed by Bloomberg unanimously expect the CBC (Taiwan Central Bank) to keep policy settings unchanged at its June meeting, the benchmark interest rate currently sits at a record low of 1.125%.
  • The economy has continued its recovery since the last CBC meeting in March, driven by robust exports on the back of elevated global tech demand fuelled by the work-from-home trend, despite a spike in COVID-19 cases domestically. GDP growth in Q1 printed 8.92% Y/Y, the highest rate of quarterly growth in 10 years
  • The announcement does not have a scheduled release time, but usually hits between 0930-1030BST (1630-1730HKT).
  • Full Preview Here

    • CBC preview June 2021.pdf

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