MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

MNI: US MBA: MARKET COMPOSITE -0.2% SA THRU JUL 05 WK

US MBA: REFIS -2% SA; PURCH INDEX +1% SA THRU JULY 5 WK

Indeed Wages Tick Higher, But Future Revisions Are Likely

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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NBH Rate Decision Coming Up (1300BST/1400CET)

HUNGARY
  • Having completed the process of rate convergence with a 100bp cut to the one-day deposit rate last month, the NBH are likely to moderate the pace of its easing cycle at this meeting given heightened market uncertainty surrounding Israel-Palestine matters.
  • While benign inflation developments may facilitate the continued fast pace of easing, the volatile geopolitical situation and HUF sensitivity to global factors will likely incline the NBH to act with a greater degree of caution instead.
  • Among sell-side, expectations are unanimous that the scale of rate cut be reduced at this meeting. Of the views we have previewed, most are expecting a 75bp cut to the base rate.
  • See our full preview of the decision, including a summary of sell-side analyst views, here.
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