MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: China CFETS Yuan Index Down 0.05% In Week of Jul 19

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

MNI: PBOC Conducts CNY58.2 Bln Via OMO Mon; 7day Repo Rate Cut

MNI BRIEF: PBOC Cuts 7-Day Repo Rate By 10bp

CBRT Data Watch

NBH Data Watch

Pay concerns push back easing expectations; curve flattens

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Powell Says Expects Further Downward Pressure on Rates

FED

Q: Why didn't the Fed make changes on IOER?

- A: The federal funds rate has been well within target range and money market conditions are fine. We have the ability to use our administrative tools to make sure that that remains the case.

  • We do expect further downward pressure on rates through asset purchases and also the runoff in the Treasury general account. But at this point, we didn't see a need to deploy our tools to support rates. Of course, we will do so if the need does arise.
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