PBoC Inaction On The MLF Front, Will We See A RRR Cut?

Below gives key levels of markets in the second half of the Asia-Pac session:

• Nikkei 225 down 86.35 points at 27084.2
• ASX 200 is closed
• Shanghai Comp. down 7.613 points at 3215.662
• JGB 10-Yr future down 3 ticks at 149.42, yield up 0.9bp at 0.24%
• ACGB markets are closed
• U.S. Tsy markets are closed
• WTI is closed, Gold up $1.31 at $1975.02
• USD/JPY up 50 pips at Y126.38
• FED'S MESTER SAYS IT'S 'IMPERATIVE' TO GET INFLATION DOWN (RTRS)
• FED'S HARKER SAYS EXPECTS 'METHODICAL' RATE HIKES TO FIGHT 'TOO HIGH INFLATION' (RTRS)
• ECB OFFICIALS CONVERGING ON QUARTER-POINT HIKE IN THIRD QUARTER (BBG)
• ECB POLICYMAKERS SEE JULY HIKE AS STILL POSSIBLE (RTRS SOURCES)
• PBOC LEAVES MLF RATE UNCHANGED, FOCUS MOVES TO POTENTIAL FOR AFTER HOURS RRR CUT
• RUSSIA’S MOSKVA CRUISER SINKS