MNI China Daily Summary: Tuesday, July 23

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: US JUL PHILADELPHIA FED NONMFG INDEX -19.1

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

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

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

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Question On Potential Headline Versus Core CPI Divergence

FED
  • Q: If oil prices / headline CPI come down, and core inflation picks up, how do you think about that?
  • A: We'd look at both and ask if we're confident that inflation's on a path down to 2%. Core inflation is a better predictor of inflation going forward; headline tends to be volatile. The public doesn't distinguish between core and headline inflation in their thinking. That's something we have to take into consideration in our policy making, even though our tools don't really work on some aspects of this, which are the supply side issues.
Energy BulletsCommodities
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