BARKIN: FED SHOULD ACT DELIBERATELY, KEEP CLOSE EYE ON ECONOMY

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

CHINA PBOC CONDUCTS CNY270 BILLION VIA 7-DAY REVERSE REPOS WED

MNI: US JUN INDUSTRIAL PROD +0.6%; CAP UTIL 78.8%

Foreigners Buy CAD20.9B of Canada Securities In May Led By Debt

MNI: US JUN HOUSING STARTS 1.353M; PERMITS 1.446M

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Minutes: Key comments from Breman

RIKSBANK
  • "I still think that the envelope for asset purchases could have been somewhat smaller in the second half of 2021, but I support the overall direction of monetary policy."
  • However, "an unexpectedly early tapering risks leading to financial tightening and allowing negative effects of the crisis to persist. I also support the assessment that net purchases continue until the end of 2021 and that holdings are maintained via reinvestments in 2022."
  • "I would like to say that I am hopeful that the next step will be a rate rise rather than a rate cut. But a wish is not the same as a forecast. A rate cut is still fully possible. My assessment is that the probability of the next step being a rate cut or a rate rise is approximately the same."
  • "There are reasons to be optimistic that the recovery in the Swedish economy can be strong and that inflation will gradually rise towards the target. But there is no new positive or negative information that is sufficient to support a change in the direction of monetary policy at today's meeting. Withdrawing the Riksbank's current measures too early risks hampering the recovery that is now underway. And, it is still important to have a high level of preparedness to use all our tools if developments were to be worse than expected."
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