MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Week Ahead (1/2)

UK
  • After a busy week for data last week in which labour market data was encouraging, inflation was higher than expected but retail sales disappointed, focus now switches to Thursday's MPC policy announcement.
  • We will release our full Bank of England preview later this week but note that expectations are low in terms of any changes to policy. Of the sell-side previews we have read so far there is a unanimous expectation of a 9-0 vote for rates on hold and an 8-1 vote of the APF target remaining unchanged (with Haldane again excepted to vote for a reduction). There are also no expectations that the pace of purchases will be adjusted (with the May meeting having set out a pace of purchases until the August meeting). There is some disagreement over the magnitude of the risk of another MPC member joining Haldane in voting for a reduction in the APF target (which would end QE before mid-December). In general, consensus expects this to lead to a more upbeat statement but with acknowledgement of increased uncertainties. The upside risks stem from better growth and higher inflation data with the increased uncertainty from the delaying of lockdown, increasing case Delta variant case numbers (and by some the Northern Irish protocol disagreements with the EU). Needless to say, if an additional member votes to end QE early that would be a big deal to the market. Although no change is expected at this meeting, a number of analysts have pushed forward their expectation of the first Bank Rate hike.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.