MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI: US Q2 GDP +2.8%

MNI: US JOBLESS CLAIMS -10K TO 235K IN JUL 20 WK

MNI:US JUN DURABLE NEW ORDERS -6.6%; EX-TRANSPORTATION +0.5%

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

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Scotiabank Says Data Reinforces Call For +25BP Hike In Feb

MEXICO
  • December inflation data reinforces Scotiabank’s expectation of a hike of 25bps at Banxico’s February monetary policy meeting, decoupling from the Fed.
  • Despite a moderation in headline and core inflation, uncertainty remains high, as noted in the last monetary policy minutes, highlighting both external and internal risks, and possible stickiness in core inflation at high levels.
  • In this regard, expectations in the Citibanamex Survey also remain high, as analysts expect a year-end inflation rate of 4.98% for 2023, and 4.07% at end-2024, slightly above the 4% upper limit of Banxico’s target range.
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