MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

CHINA PBOC CONDUCTS CNY267.3 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1334 TUES VS 7.1335

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI China Daily Summary: Monday, July 22

EZ/UK T-Bill Calendar: 3/6-Month RATB Auction on Tuesday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

Philippine's FinSec Open To Rate Cuts, Front-End Yields Lower

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

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Presser Begins, Powell Pushes Back Again On Loosening Fin Conditions

FED
  • Q: On the recent loosening of financial conditions.
  • Powell pushes back again:
  • A: As I mentioned, it's important that overall financial conditions reflect the policy restraint we're putting in place to bring inflation to 2%. We think they've tightened significantly in the past year but our policy works through fin conditions > econ activity, labor market and inflation.
  • "I would say it's our judgment today that we're not as sufficiently restrictive policy stance yet which is why we say that we'd expect that ongoing hikes will be appropriate."
  • Powell notes the Dot Plot shows 17 with a peak rate of 5% or more; "can't tell you confidently that we won't move up our estimate of the peak rate again at the next SEP, will depend on future data."
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