MNI: ECB LEAVES KEY DEPOSIT RATE UNCHANGED AT 4%

MNI China Daily Summary: Thursday, April 11

MNI BRIEF: EU Risks Damaging Trust With China - MOFCOM

MNI BRIEF: China Small Lenders To Cut Deposit Rates Further

MNI BRIEF: China’s Hainan To Launch “Tourist Wallet”

MNI BRIEF: China March CPI Lower Than Market Expectation

PPI: PCE Inputs Portfolio Management, Airfares Tick Higher (2/2)

PPI: Health Care, Car Insurance Translates To Softer PCE Read (1/2)

MNI: US MAR FINAL DEMAND PPI +0.2%, EX FOOD, ENERGY +0.2%

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

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

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Tenreyo: Tackling Inflation Early Would Have Hurt Jobs

BOE
  • BOE'S TENREYRO: TACKLING INFLATION EARLY WOULD HAVE HURT JOBS - bbg
  • Speaking on a panel discussion, BOE MPC member Tenreyro said responding earlier to inflation would have driven unemployment to levels last seen in the 1990s, creating an "enormous recession" and leading to below target inflation in the medium-term.
  • She notes the bank rate will be the main tool to manage the economy with unwinding QE not expecting to have a material effect on the UK economy.
  • She also adds that climate changes is a problem for governments rather than central banks, which have few tools to tackle it (going against Governor Bailey earlier saying its important for central banks to be involved).
  • GBPUSD sits little changed on her remarks (for -1.6% at 1.1928) which hit at the same time both Chancellor Sunak and Secretary of State for Health resigned in protest to Boris Johnson's leadership.
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