MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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 BRIEF: RBA Sees NAIRU As Difficult Metric - Bullock

SYDNEY

The Reserve Bank of Australia does not target a specific level of joblessness and believes wide bands around measures of the non-accelerating level of unemployment make it a difficult metric to use when determining monetary policy, according to RBA Governor Michele Bullock.

At a Q&A session in Sydney, Bullock was reluctant to discuss NAIRU forecasts, noting the Reserve aimed to keep inflation within its 2-3% target band while maintaining employment growth. She added the Reserve aimed to keep an “open mind” on what “the level of NAIRU might be.”

Bullock in June noted an unemployment rate of 4.5% by mid-2025, while lower than pre-pandemic levels, would be “not far off some estimates of where the NAIRU might currently be.” (See MNI INTERVIEW:Neutral Update Needed After Fourth Pause- Ex RBARBA)

Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.
Central Bank NewsPolicy NewsHomepageAPACAustraliaBriefStoryRBARegion
Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.
Central Bank NewsPolicy NewsHomepageAPACAustraliaBriefStoryRBARegion

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