MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

CHINA PBOC CONDUCTS CNY267.3 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1334 TUES VS 7.1335

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI China Daily Summary: Monday, July 22

EZ/UK T-Bill Calendar: 3/6-Month RATB Auction on Tuesday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

Philippine's FinSec Open To Rate Cuts, Front-End Yields Lower

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

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Swedbank: Now look for Q4-22 first hike

RIKSBANK
  • "The strong domestic economy, together with the recent hawkish signals from the ECB, will force the Riksbank to gradually tighten policy during the upcoming MPRs. We now expect that the repo rate will be hiked already in Q4 of this year, followed by two more hikes next year: one in Q2 and one in Q4. We also believe that the Riksbank will speed up the reduction in the securities holdings and only buy SEK 24bn of bonds in Q4 2022 and SEK 8bn in Q4 2023. The holdings of T-bills will be phased out in H2 2022."
  • Ahead of the meeting Swedbank had been looking for the repo rate path to show a hike one or two quarters earlier (it showed one quarter) and had questioned whether corporate bond purchases would continue in Q2-22. It notes that "the minutes from the meeting published on 21 February will be interesting."
  • It also acknowledges that today's announcement was "soft".
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