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

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

MNI: BELGIUM JUL BNB BUSINESS SURVEY -12.3

MNI: US Q2 GDP +2.8%

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

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Summary – March 19

LATAM
  • In Brazil, the BCB will publish its weekly Focus survey this morning, while Mexico Q4 aggregate supply and demand will also cross. Later today, Argentina releases February trade data and Colombia will publish February industrial and retail confidence figures. Elsewhere, US building permits and housing starts data for February will cross.
  • Global News:
    • JAPAN (MNI) – The BoJ board on Tuesday decided to end its negative interest rate and raised the unsecured overnight call loan rate to a range of between zero percent to 0.1% -- the first rate hike since February 2007. The BOJ also scrapped the yield curve control policy and deleted the 1.0% ceiling of the long-term interest rate. However, the bank will maintain its Japanese Government Bond buying programme at about the same volume and will make "nimble responses," increasing its purchases, should long-term interest rates rise.
    • US – Congressional leaders and the White House reached a handshake deal to fund the US government through Sept. 30, according to people familiar with the negotiations, after six months of bitter ideological clashes delayed finishing an annual spending plan. Lawmakers will now race to pass the agreement before a midnight Friday deadline for a partial government shutdown.
    • EU – ECB Vice President Luis de Guindos reiterated that he and his colleagues will have much more information to decide on interest rates when they meet in June. Speaking at an event in Madrid on Tuesday, the former Spanish finance minister didn’t dwell much on the outlook for borrowing costs, while cautioning that things could turn out differently from what investors expect.
    • CHINA / RUSSIA (MNI London) – Reuters claiming that according to its sources, Russian President Vladimir Putin will visit China for talks with President Xi Jinping in May. This would mark Putin's first foreign trip of his latest term in office, and act as a further signal of Putin's intent to develop increasingly close links with China.
BulletEM BulletEmerging Market NewsHomepageBank of Japan (BOJ) Market News
BulletEM BulletEmerging Market NewsHomepageBank of Japan (BOJ) Market News

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