MNI BRIEF: BOI Sees "Modest" Q2 EZ Growth Driven By Services

MNI China Daily Summary: Friday, July 12

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

MNI BRIEF: China Steel Export Growth Slows In June

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

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

MNI: BAKER HUGHES US RIG COUNT 584; OIL RIGS 478; GAS RIGS 100

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.10B BSL

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

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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Pantheon: Hikes pulled forward but still see 1% as terminal rate

BOE
  • “The urgency shown by some MPC members this week has persuaded us to pull forward our forecast for the next 25bp increase in Bank Rate to March, from May, and to pencil-in another 25bp hike for May. After that, though, we think the Committee will give the economy some breathing space. Indeed, we continue to think that 1.0% will be the terminal rate in this tightening cycle.”
  • “The MPC's three-year ahead inflation forecast, assuming market rates, is the lowest since November 2011. These numbers imply that the MPC thinks Bank Rate needs to increase by only 35bp more this year for CPI inflation to hit the 2% target in the medium term.”
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