MNI China Daily Summary: Tuesday, April 2

MNI BRIEF: China to Incentivise Equipment Upgrades, Trade-Ins

MNI: PBOC Drains Net CNY148 Bln Via OMO Tues; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0957 Tues; -4.95% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.0957 TUES VS 7.0938

MNI: GERMANY MAR CPI +2.2% Y/Y

Services Stickiness To Offset Goods Pullback In State CPI Data

NBP Watch

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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MNI CBRT Preview: January 2023

TURKEY
  • The CBRT is expected maintain the one-week repo rate at 9.00%, as the bank remains highly politically influenced and willing to look through inflation in excess of 60%.
  • Fundamental pressure on the lira is likely to have increased due to the lack of tourist revenues over the winter period, meaning further rate cuts would make maintaining the lira’s stability more difficult.
  • President Erdogan has said elections will be brought forward to May from the originally scheduled June date, where the path of Turkish macroeconomic policy in H2 2023 could shift drastically. Despite the opposition yet to name a unified contender, current polling suggests that the election is in the balance.
  • Full MNI Preview including sell-side analyst views here
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