MNI China Daily Summary: Wednesday, July 3

MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

PPI a Tenth Softer than Exp; Further NEIG HICP Disinflation to Come?

MNI: EUROZONE MAY PPI -0.2% M/M, -4.2% Y/Y

Services PMI points to wage bills increasing operating expenses

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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Rogers - Households Adjusting To Stress But Doesn't Mean It's Been Easy

CANADA
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  • Q by MNI's Greg Quinn in the Financial System Review's press conference: Public debate has been so dominated on housing and affordability whilst this report surveys investors who see housing as only the fourth most important risk in the financial system. There seems to be a gap between the public mood and what you’re saying about the financial system’s resilience.
  • Rogers: We can’t stress enough that there’s a difference between looking at overall system stability and acknowledging the real stress that’s felt by households and individuals. When it comes to characterizing the mood, even if households are adjusting well that doesn’t mean that it’s been easy – people are finding it difficult. That’s probably what contributes to the mood.
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  • Q by MNI's Greg Quinn in the Financial System Review's press conference: Public debate has been so dominated on housing and affordability whilst this report surveys investors who see housing as only the fourth most important risk in the financial system. There seems to be a gap between the public mood and what you’re saying about the financial system’s resilience.
  • Rogers: We can’t stress enough that there’s a difference between looking at overall system stability and acknowledging the real stress that’s felt by households and individuals. When it comes to characterizing the mood, even if households are adjusting well that doesn’t mean that it’s been easy – people are finding it difficult. That’s probably what contributes to the mood.