MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

NBH Data Watch

INDON Sov Curve Flatter, Trade Surplus Soars, BI Decision Wednesday

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

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 RBA Review - September 2022: Something For Everyone As Normalisation Phase Ends

EXECUTIVE SUMMARY

  • The RBA delivered the widely expected and virtually fully priced 50bp rate hike at its September meeting, as it reaffirmed its view on inflation and once again pointed to the narrow path that it finds itself on as it looks to keep the economy on an even keel in its quest to return inflation to the target band.
  • On net, the RBA sounded more hawkish on the domestic labour market, emphasised a little more focus on the fight against inflation, while alluding to the end of its normalisation phase and providing a slightly more downbeat assessment of the external environment, as well as a challenging medium term outlook.
  • Focus now moves to Governor Lowe’s annual address in front of the Anika Foundation, which will take place on Thursday and cover the topic of “Inflation and the Monetary Policy Framework.” We look for the Governor to be non-committal when it comes to the size of the upcoming rate hikes, underscoring the Board’s data-dependent optionality, but that doesn’t mean the Q&A session won’t see a push for greater clarity.
  • Click to view full review: MNI RBA Review - September 2022.pdf
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Central Bank PreviewCentral Bank ReportsRBA - PreviewMarkets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Central Bank PreviewCentral Bank ReportsRBA - PreviewMarkets

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