MNI China Daily Summary: Tuesday, July 9

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

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Question On Whether Financial Market Conditions Are Tight Enough

FED
  • Q: Are financial market conditions tight enough?
  • A: A big piece is inflation expectations coming down. It is a good thing that markets do seem to have confidence in the Committee's commitment to getting inflation back down to 2%. We like to see market-based readings and inflation expectations coming down. Broader financial conditions have tightened a good bit.
  • We set our policy, and financial conditions react, and financial conditions are what affects the economy. We don't control that second step. We're just going to do what we think needs to be done. We're going to get our policy rate to a level where we're confident that inflation will be moving back down to 2%.
  • Of course, we'll be watching financial conditions to see that they are appropriately tight and they're having the effect we would hope they're having, which is to see demand moderate and inflationary pressures recede.
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