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MNI: PBOC Sets Yuan Parity Lower At 7.1149 Mon; -1.41% Y/Y

CHINA PBOC CONDUCTS CNY4 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1149 MON VS 7.1151

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CHINA MAY INDUSTRIAL OUTPUT +5.6% Y/Y VS MEDIAN +5.9% Y/Y: NBS

MNI JAPAN APRIL CORE MACHINE ORDERS -2.9% M/M; MAR +2.9%

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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 RBNZ Review - February 2022: Kiwis That Turn Into Hawks

EXECUTIVE SUMMARY

  • The RBNZ raised the OCR by 25bp in a "finely balanced" decision between the chosen course of action and a 50bp hike, as they acknowledged the risk of inflation becoming more persistent.
  • The notable lift to the OCR track was interpreted as a hawkish signal, with the terminal level of the policy rate now seen comfortably above the neutral value and most earlier predictions.
  • The Reserve Bank also unveiled their QT plans, noting that they are looking to unwind their LSAP holdins through bond maturities and managed sales at the rate of NZ$5bn/fiscal year.

Click here to view the full review: MNI RBNZ Review February 2022.pdf

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