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.
The People's Bank of China is likely to increase liquidity injections to support accelerating government bond issuance in the third quarter, pushing money market rates lower, but traders’ expectations for further policy rate cuts remain limited, results from the MNI China Money Market Index survey.
- The MNI China Money Market Index slipped in July, falling to just below the 50 mark
- The MNI China Money Market Current Conditions Index fell sharply as conditions eased
- The MNI China Economic Outlook Index was little changed, with the index remaining in the range of recent months.
The MNI survey collected the opinions of 53 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 instit
