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: US APR PHILADELPHIA FED MFG INDEX 15.5

MNI: US JOBLESS CLAIMS +0K TO 212K IN APR 13 WK

MNI UK Inflation and Labour Market Insight: April 2024 Release

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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MNI BoK Preview - February 2023: A Hawkish Hold

BOK
  • The BoK faces a delicate balancing act at the current juncture. Inflation pressures have moved off 2022 highs, but remain elevated from an historical standpoint. Inflation expectations have ticked higher over the last few months, although through much of 2021 and 2022 headline inflation led expectations rather than the other way around. While there are some signs of easing services related inflation pressures, the BoK is likely to want to see more evidence of such trends before being more comfortably around the outlook.
  • On the growth side, momentum has clearly cooled. External headwinds persist, particularly in the tech space, while domestic demand is showing signs of the cumulative rate hikes over the past 18 months. Such a growth backdrop warrants caution in terms of additional rate hikes.
  • Fed developments have also turned more hawkish since January, which has helped push USD/KRW back above 1300, some 7% above early February lows. This is also likely to bias the BoK away from sounding too dovish, at the margins.
  • See the full preview here:
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