MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

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

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MNI BRIEF: Gas Price Shock Hit To EA GDP of 0.2% - ECB Study

(MNI) LONDON
(MNI) Frankfurt

Soaring natural gas prices are currently the main driver of low growth in the euro area, a study published as part of the latest ECB Economic Bulletin concludes, with the combined effect of surging oil and gas costs potentially reducing euro area output by 0.2% by the end of this year.

The direct and indirect effect of a 10% gas rationing shock on the corporate sector could cut euro area gross value added by about 0.7%, while a permanent one standard deviation increase in gas prices from the first quarter of 2021 would cut euro area GDP by around 0.2% over a three-year projection horizon

MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Political RiskPolicy NewsCentral Bank NewsEuropean Central BankCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefGlobalStoryRegion
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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Political RiskPolicy NewsCentral Bank NewsEuropean Central BankCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefGlobalStoryRegion
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