MNI China Daily Summary: Monday, July 1

MNI BRIEF: PBOC To Borrow CGBs In Response To Market Situation

MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

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

Services Inflation Potentially A Touch Softer; Food Prices Jump

Nominal Wage Growth Moderates In April, But Real Wages Remain Positive

MNI Projects 2.2-2.3% Y/Y National CPI, Core CPI Around 2.9%

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

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

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

MNI BoJ Review - October 2021: No Shocks, Steady Policy, Forecast Tweaks, Move On

EXECUTIVE SUMMARY

  • There were no surprises within the latest BoJ decision; policy settings and forward guidance were unchanged, with the standard dovish dissent from Kataoka present. CPI projections for the current FY were marked lower, with the same holding true for the Bank's GDP projection (the next FY is expected to see a slightly faster clip of GDP growth as a result). The language deployed surrounding the economy was matter of fact, with downside risks to both the economy and inflation underscored.
  • Governor Kuroda did not push back against the recent JPY weakness, pointing to a move that is aligned with fundamentals, while noting that the recent depreciation is not a bad thing (no surprise given the well documented inflationary struggles the BoJ has faced).
  • Focus now moves to the lifespan of the BoJ's special fund measures to facilitate corporate financing, currently set to expire at the end of March.

Click to view the full review:MNI BoJ Review - Oct 2021.pdf

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Central Bank ReviewBoJ - ReviewCentral Bank ReportsMarketsBank of Japan (BOJ) Market News

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.