MNI China Press Digest July 2: PBOC, FDI, Land Revenue

MNI: PBOC Net Drains CNY298 Bln Via OMO Tues; Rates Unchanged

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

MNI: PBOC Sets Yuan Parity Higher At 7.1291 Tues; -0.09% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1291 TUES VS 7.1265

MNI China Daily Summary: Monday, July 1

June CPI Below Market Expectations, Headline Y/Y At 2.4%

MNI: UK JUN BRC SHOP PRICES -0.2% M/M, +0.2% Y/Y

Multivariate Core Trend Inflation Falls To Post-2020 Low

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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SEB – Expects SEK100bln more QE in November

RIKSBANK
  • SEB's base case (60%) is for the Riksbank's "QE programme to be expanded by SEK 100bn and the planned purchases extended until the end of 2021."
  • SEB "also expect the bank to announce that maturing bonds and coupons amounting to SEK 60bn will be re-invested during next year."
  • "This means that the QE purchases will remain at approximately the current size through-out 2021."
  • SEB thinks that "the board will say that rate cuts are still possible and also that the QE programme can be expanded if needed. The board will also repeat that a period of above target inflation would not be a problem and may even be desirable."
  • Hawkish risk (25%): QE and repo rate path left unchanged.
  • Dovish risk (15%): Repo rate path indicates a chance of a 5bp cut in 2021.
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