MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

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CHINA PBOC CONDUCTS CNY270 BILLION VIA 7-DAY REVERSE REPOS WED

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MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +20.9B CAD IN MAY

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

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VIEW: Latest Two Additions To The Multiple 50bp Hike Camp

FED
  • ABN Amro: Back-to-back 50bp hikes in May and June before 25bps per meeting thereafter until 2.5-2.75% in early 2023.
  • This assumes monthly core inflation shows some signs of slowing otherwise the pace could be faster.
  • They expect the pause just above terminal as higher energy prices will dampen growth and the economy will already be slowing significantly into 2023.
  • Danske Bank (from overnight): Three consecutive 50bp hikes in May, June and July followed by 25bp hikes at each meeting thereafter, taking Fed Funds to 2.5-2.75% by year-end.
  • “Risk is still skewed towards faster rate hikes and we cannot rule out a larger 75bp rate hike at some point or that the Fed continues hiking by 50bp for longer”.
  • Danske joins Citi in calling for the three 50bp hikes.
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