MNI BRIEF: PBOC Launches Outright Reverse Repo For Liquidity

MNI: PBOC Net Injects CNY32.7 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1307 Mon; +2.71% Y/Y

CHINA PBOC CONDUCTS CNY241.6 BLN VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1307 MON VS 7.1090

MNI China Daily Summary: Friday, October 25

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL OCT INDEX 70.5

MNI: BELGIUM OCT BNB BUSINESS SURVEY -12.8

EUROPEAN FISCAL: DE 2025 Budget Gap Grows; Political Risk Is Rising

CANADA: Politics Week: Trudeau Facing More Internal Dissent And Departures

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BoC Review, Oct'24: Bigger Cut As Market Eyes Neutral

The BoC ramped up the pace of its easing cycle with a 50bp cut to a 3.75% target rate, with policy still restrictive
Bank of CanadaCentral Bank NewsHomepageBoC - ReviewCanadaCentral Bank ReportsGlobalStoryCentral Bank ReviewNorth AmericaMarketsRegion

MNI (LONDON) - EXECUTIVE SUMMARY

  • The BoC ramped up the pace of its easing cycle with a 50bp cut to a 3.75% target rate, having now cut 125bp since June. Neutral rates are seen in a range of 2.25-3.25%.
  • Market reaction was limited by having been circa 46-47bp of cuts priced beforehand.
  • Further rate cuts are coming, with the size and timing to be determined by the data.
  • Analysts and markets alike currently have a roughly 50/50 call between shifting back to a 25bp pace or following with a second 50bp cut in December.
  • GDP and labour data are likely in the driving seat here, with two reports of each before the Dec 12 BoC decision.

 PLEASE FIND THE FULL REPORT HERE: BOCReviewOct2024.pdf

 

122 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

MNI (LONDON) - EXECUTIVE SUMMARY

  • The BoC ramped up the pace of its easing cycle with a 50bp cut to a 3.75% target rate, having now cut 125bp since June. Neutral rates are seen in a range of 2.25-3.25%.
  • Market reaction was limited by having been circa 46-47bp of cuts priced beforehand.
  • Further rate cuts are coming, with the size and timing to be determined by the data.
  • Analysts and markets alike currently have a roughly 50/50 call between shifting back to a 25bp pace or following with a second 50bp cut in December.
  • GDP and labour data are likely in the driving seat here, with two reports of each before the Dec 12 BoC decision.

 PLEASE FIND THE FULL REPORT HERE: BOCReviewOct2024.pdf