INDIA: RBI Reportedly Set to Meet Lenders to Discuss Liquidity Mgmt Framework
May-15 12:34
Bloomberg report, citing people familiar with the matter, that the RBI will meet lenders next week on May 21 to discuss changes to its liquidity management framework, including the effectiveness of its monetary policy target.
- Bloomberg add that the “central bank likely to discuss and take feedback on the continuation of weighted average call rate as the target of liquidity operations and monetary policy” and “may discuss whether to use fixed-rate or variable rate repurchase operations to effectively anchor overnight rates to the policy rate.”
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Apr-15 12:31
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CANADA MARCH CPI +2.3% YOY VS PRIOR +2.6% ON Travel AND GAS
Apr-15 12:30
- CANADA MARCH CPI +2.3% YOY VS PRIOR +2.6% ON TRAVEL AND GAS
- CORE TRIM CPI +2.8% YOY FROM +2.9%, MEDIAN STEADY +2.9%
CANADA DATA: Canada March CPI Slows to +2.3% YOY On Lower Travel and Gas
Apr-15 12:30
- Canada March CPI slows to +2.3% YOY from +2.6% in Feb., below market expectations. Headline deceleration was largely due to slowdown in air transportation (-12%) and lower gasoline (-1.6%). Offsetting the drop, mortgage interest cost +7.9% and rent +5.1%.
- BOC preferred core measures remained elevated. CPI median was unchanged at +2.9% in March. CPI trim slowed to +2.8% from +2.9%.
- MOM CPI also decelerated to +0.3% from +1.1% in February, again lower than consensus. Decline also driven by travel tours and gasoline. Moderating the slowdown, food from restaurants +4.7%.
- Excluding a federal sales tax break that ended in mid-February inflation would have been -0.1% MOM.
- Report is last major data before BoC’s rate decision Wednesday. Markets are divided on whether the central bank will hold or deliver a 25bp cut after seven prior reductions amid trade war pressures on inflation and growth.
