MNI: FX Moves May Warrant Policy Action - BOJ Minutes

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MNI China Daily Summary: Tuesday, June 18

MNI: PBOC Net Injects CNY84 Bln Via OMO Tues; Rates Unchanged

CHINA PBOC CONDUCTS CNY86 BILLION VIA 7-DAY REVERSE REPOS TUES

Japan May Exports +13.5% Y/Y; Imports +9.5% Y/Y

MNI: JAPAN MAY EXPORTS +13.5% Y/Y; APRIL +8.3%

MNI: UK MAR-MAY MEDIAN PAY AWARDS +4.6% :Brightmine

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Question From MNI's Evan Ryser On Status Of Regional Bank Turmoil

FED
  • Q: From MNI's Evan Ryser - Are we in the early or near end stage of regional bank turmoil? And do you have a bias to tighten rates?
  • A: There were three large banks from the very beginning that were at the heart of March's severe stress; those have now been resolved. I think we're very focused on what's happening with credit availability, particularly with what you saw in the Beige Book and you see in the SLOOS is that small/medium banks feel they need to tighten credit standards and what's the economic effect of that. We'll continue to carefully monitor and will factor that into our decisions in an important way going forward.
  • (Powell doesn't answer the second question.)
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