Key Points – July Report
Introducing the updated MNI China Money Market Index (MMI), formerly the MNI China Liquidity Index, which has been adapted to reflect the PBOC's monetary policy.
China interbank money market traders see the PBOC maintaining an accommodative stance on liquidity provision in Q3, MNI’s China Money Market survey showed.
- The MNI China Money Market Index was a shade lower in July as traders saw lower chance of easier policy as trade concerns eased somewhat.
- The MNI China Money Market Current Conditions Index edged higher in July as conditions deteriorated very modestly, as signalled by MNI’s May survey.
- The MNI China Economic Outlook Index slipped modestly in July as sentiment was largely unchanged.
The MNI survey collected the opinions of 47 traders with financial institutions operating in China's interbank market, the country's main platform for trading fixed income and currency instruments, and the main funding source for financial institutions. Interviews were conducted July 14 to July 25.
