MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

NBH Data Watch

INDON Sov Curve Flatter, Trade Surplus Soars, BI Decision Wednesday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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"Temporary" holdings to be sold from 29 Nov - impact on curve unclear (2/2)

BOE
  • The Market Notice states that "Once the unwind process begins the Bank will allow eligible counterparties to express interest in purchasing any of the index-linked and/or long-dated conventional gilts held in the portfolio via a form of reverse enquiry window. Acceptance of any bids to buy gilts will be at the Bank’s discretion, based on its assessment of the pattern of demand. As a general principle only bids that are deemed attractive relative to prevailing market levels will be accepted. This means that there will be instances when the Bank could sell a larger volume of bonds if demand is particularly strong; but also times when the Bank will sell few or no bonds if there is insufficient demand. This demand-led approach is intended to allow us to meet demand where it exists while limiting the impact of sales on market conditions."
  • "A Market Notice will be published in the week commencing 21 November that will set out operational details of the Bank’s planned approach, including how and when the reverse enquiry window will be made available. Gilt-edged Market Makers will also be invited to a call next week to discuss operational implications and initial feedback. To ensure transparency, minutes of that call will be published on the Bank’s website."
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