China's monetary and fiscal policy
The central bank announced that the reverse repo system was operated at a reasonable interest rate of 10.0 billion yuan on July 12, and the reverse repo period was called as a reasonable interest rate of 10.5%. On the same day, RMB 10 billion reverse repo expired, so the maturity amount was fully hedged on the same day. (issued by the central bank)
Monetary policy: Chen Yulu, vice governor of the central bank: put steady growth in a more prominent position, strengthen cross cycle policy adjustment, accelerate the implementation of the policies and measures that have been issued, especially actively plan incremental policy tools, continue to stabilize the total amount of credit, continue to reduce financing costs, continue to strengthen financial support for key areas and weak links, and increase further support for the real economy; Guide the interest rate of the loan market to further decline at a relatively low level, so as to reduce the financing cost of market subjects and stimulate financing demand. (issued by the central bank)
Overseas monetary and fiscal policy
[fed] fed Brad said that inflation increased rapidly in April, but it was not far from expectations; "Basic information" does not include an interest rate increase of 75 basis points; The Fed is ready to raise interest rates by 50 basis points at future meetings. Raising interest rates at this pace is a good benchmark for the moment; The Fed must bring interest rates above neutral levels to lower prices.
[UK] Bank of England deputy governor Ramsden said that due to the rising risk of CPI, the Bank of England will raise interest rates many times in the future, and the Bank of England is not enough to raise interest rates. However, the four interest rate hikes since last December have had a great impact on the UK economy.
[Thailand] the Bank of Thailand said that the devaluation of the Thai baht had little impact on inflation and the economy, and there was no need to use interest rates to deal with the weakness of the Thai baht. If necessary, the Bank of Thailand may take measures on the exchange rate of the Thai baht. The Bank of Thailand will relax restrictions on foreign exchange outflow from the ecosystem from May 13.
Risk tip: the epidemic spreads beyond expectations, overseas tightens beyond expectations, and global inflation intensifies
