MNI China Daily Summary: Thursday, April 25

MNI BRIEF: China Opposes Accusations Of Overcapacity - MofCom

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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1058 Thurs; -4.80% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1058 THURS VS 7.1048

CBI Reported Retail Sales At Cycle Lows

MNI: UK CBI APR DIST TRADE REPORTED SALES -44

France Manufacturing Sentiment Reverses Year-To-Date Gains

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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Wolden-Bache Stresses Need For Trust in Policymaking at Annual Address

NORGES BANK
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange BulletsNorges Bank Market News
  • Norges Bank Governor Ida Wolden Bache gives her annual address, warning that easing policy too soon could weaken confidence in the central bank’s ability to tackle inflation and entail costs that may be “substantial.”
  • Annual address titled 'Economic perspectives' found here: https://www.norges-bank.no/en/news-events/news-pub...
  • Little market-moving in the annual address - with institutional and political trust a key focus - evident in her focus on the need to uphold confidence in the Norges Bank inflation target.
  • On rates specifically, she flags that the Norges Bank policy rate can't deviate substantially from foreign rates over time - the bank's model-based policy approach is a key tenet for this view - and comes as no surprise for markets.
  • Other economic observations are inline with the most recent policy statement: Inflation is coming down, inflation expectations are stable, but must be prepared for a higher net level of unemployment.
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  • Norges Bank Governor Ida Wolden Bache gives her annual address, warning that easing policy too soon could weaken confidence in the central bank’s ability to tackle inflation and entail costs that may be “substantial.”
  • Annual address titled 'Economic perspectives' found here: https://www.norges-bank.no/en/news-events/news-pub...
  • Little market-moving in the annual address - with institutional and political trust a key focus - evident in her focus on the need to uphold confidence in the Norges Bank inflation target.
  • On rates specifically, she flags that the Norges Bank policy rate can't deviate substantially from foreign rates over time - the bank's model-based policy approach is a key tenet for this view - and comes as no surprise for markets.
  • Other economic observations are inline with the most recent policy statement: Inflation is coming down, inflation expectations are stable, but must be prepared for a higher net level of unemployment.