MNI China Daily Summary: Monday, July 1

MNI BRIEF: PBOC To Borrow CGBs In Response To Market Situation

MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

HICP Steady As Expected; CPI Ticks Lower As State Data Indicated

MNI: GERMANY JUL CPI +2.2% Y/Y

German CPI / HICP due for release at 13:00BST / 14:00CET

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

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

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MNI POLICY: BOC Boosts Focus on Climate Change Risks

(MNI) OTTAWA
OTTAWA (MNI)

The Bank of Canada gave one of the clearest signals yet it's incorporating climate change into monetary policy, with a presentation by deputy Paul Beaudry Thursday showing a plan to study how financial markets and the economy will adapt.

Monetary policy can make sure the financial system "doesn't become a barrier to this transition," Beaudry said.

The BOC sees risks from damage to physical assets and disruptions as the economy shifts to new ways of production, Beaudry said. New BOC Governor Tiff Macklem also helped advise the government on climate change and finance during his previous job leading the University of Toronto's business school.

Beaudry presented a slideshow with rough scenarios showing how global oil production could plunge if countries actually meet the Paris climate targets, and how there could be a large swing to energy produced from wind and solar as opposed to coal over the next few decades.
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Bank of CanadaPolicy NewsHomepageCanadaCentral Bank NewsPolicy StoryStoryRegionNorth America
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Bank of CanadaPolicy NewsHomepageCanadaCentral Bank NewsPolicy StoryStoryRegionNorth America

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