MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

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

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

NBH Data Watch

INDON Sov Curve Flatter, Trade Surplus Soars, BI Decision Wednesday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Q3 Wholesale Power Prices Soar, Worry To Government And RBA

AUSTRALIA

The Australian Energy Regulator has reported that wholesale gas prices doubled in Q3 compared to a year ago along Australia’s east coast and wholesale electricity prices were their second highest on record and that they’re forecast to remain in place until 2024, according to The Australian.

  • Futures markets are pointing to further rises in 2023.
  • The Commonwealth Government forecast a 56% increase in power prices over two years in its October budget and these latest increases in wholesale prices are likely to add to pressure on the government to provide relief. The RBA is also monitoring the impact of rising electricity prices on inflation.
    - The Australian
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