Kai-Tong Macro: Singaporean Monetary Authority's economic outlook supports monetary policy easing in October.
On July 26th, Grace Finance | Shivaan Tandon, emerging Asia economist at Capital Economics, said that the slightly moderate statement made by the Monetary Authority of Singapore (MAS) in its July meeting has given Capital Economics more confidence that MAS may relax its policy in October. Tandon said that MAS now appears to have eased its concerns about inflation, as it has made adjustments to its statements in July and April. He also said that MAS did not provide any important clues about its next steps, but seems more confident about the inflation outlook. In addition, MAS may lower the nominal effective exchange rate range for the Singapore dollar.
Express News | The Monetary Authority of Singapore maintains its monetary policy unchanged for the fifth consecutive time.
Express News | Analysts interpret the sharp rise of the yuan: the peripheral market may have begun to brew expectations of a strong domestic economy.
What is the significance of the People's Bank of China's second MLF operation this month? Deemphasizing the policy color of the MLF interest rate, institutions need to pay more attention to mid-month liquidity.
The increase in MLF operations this time met the long-term funding needs of financial institutions. The MLF operation used an interest rate bidding method, which can better reflect the supply and demand of funds. The moderate decline in MLF interest rates bridged the gap with market rates such as interbank certificates of deposit. The arrangement of this MLF operation after the LPR quote reflects the intention to downplay the policy color of MLF interest rates.
UBS Group's central bank survey: Nearly 70% of respondents expect that the global economy is most likely to experience a soft landing.
According to a survey conducted by UBS Group Asset Management, of the 40 central banks surveyed globally, 66% expect the most likely occurrence of a soft landing for the global economy, while only 16% estimate that the global economy will enter a recession.
NDRC releases policy measures to encourage high-quality enterprises to use mid- to long-term foreign debts, expanding USD 1.27 trillion of external debts.
Requirement for high-quality enterprises to achieve "industry top five revenue scale in the past year" has been added. Currently, the scale of China's foreign debt stock is USD 1.27 trillion, with the proportion of medium- and long-term foreign debt accounting for 87.8%.