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.
Key Points – July Report
China’s interbank market liquidity eased in July for the first time in five months, as banks released funds back to market following June’s end of H1 macro-prudential assessment and the People’s Bank of China maintained a loose policy environment to support the economy after weaker than expected GDP growth in Q2, the latest MNI Liquidity Conditions Index shows.
-- The MNI China Liquidity Condition Index fell to 35.9 in July from 60.5 in June, breaking a 5-month trend of tightening, with 46.2% of local traders reporting easing of conditions.
-- The MNI China Economy Condition Index dropped to 37.2 in July, down from 48.7 in June, marking the fifth consecutive month of decline, with 41.0% of local traders seeing weaker conditions.
-- The MNI China PBOC Policy Bias Index stood at 35.9 in July with 71.8% of local traders expecting the PBOC keep monetary policy prudent and 28.2% expecting easing.
-- The MNI China Guidance Clarity Index read 57.7 for July, down from 57.9 previous, with 84.6% of local traders understanding the PBOC’s communication well.
The MNI survey collected opinions from 39 local traders with financial institutions operating in China's interbank market, the country's main platform for trading fixed income and currency instruments, and the main funding source for financial institutions. Interviews were conducted July 10 – July 21.
Click below for the full press release:
MNI China Liquidity Index July Presser 2023.pdf
For full database history and full report on the MNI China Liquidity Index™, please contact:sales@marketnews.com
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.