CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

MNI: US MAY PERSONAL INCOME +0.5%; NOM PCE +0.2%

MNI: CANADA APR GROSS DOMESTIC PRODUCT +0.3% MOM

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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Q&A Continues

FED

Q: Did reopenings happen too soon?

  • A: The most central fact/driver of the path of the economy right now is
    the virus. In lockdown, when we got cases way down, you saw economy
    reopening. Now that cases have spiked again, data suggests a slower pace
    of growth at least for now. We don't know how deep or how long that will
    be. It's so important that it needed to be in our post meeting statement,
    it's fundamental.

Q: What more accommodation can the Fed bring unless you cut rates into
negative territory? Or is it up to the fiscal authorities to rescue the
economy?
  • A: You're right, we're committed to using our full range of tools. We have
    ways to further support the economy, through credit/liquidity serviecs which
    are effectively unlimited, can adjust forward guidance, can adjust asset
    purchases.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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