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

US EIA: CRUDE OIL STOCKS EX SPR -3.44M TO 445.1M JUL 05 WK

MNI:US MAY WHOLESALE INV 0.6%; SALES 0.4%

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

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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NZIER Shadow Board Still Favour QE Over Negative OCR For Stimulus

RBNZ

NZIER's Monetary Policy Shadow Board write the following in their RBNZ recommendation: "Fewer Board members see further quantitative easing as appropriate over the coming year. This follows the Reserve Bank's decision to expand its Large-Scale Asset Purchases (LSAP) programme up to $100 billion at the August meeting. Although an expansion of quantitative easing remains more favoured than a negative OCR in stimulating the economy, there has been an increase in appetite amongst Shadow Board members to introduce a negative OCR over the coming year. The Reserve Bank has indicated in its recent communications it is actively preparing to introduce a negative OCR and a Funding For Lending programme next year if required. The central bank is aiming to reduce interest rates to encourage households and businesses to spend and invest. Nonetheless, some Shadow Board members continue to highlight their scepticism about the effectiveness of a negative OCR in stimulating the economy."

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