• Monday, May 23, 2016 - 21:23 China PBOC Injects CNY65 Bln Via 7-Day Reverse Repos 0

    BEIJING (MNI) - The People's Bank of China injected CNY65 billion via seven-day reverse repos in its open market operations on Tuesday, traders said.

    This resulted in a net injection of CNY15 billion at OMOs for the day.

    A total of CNY300 billion in outstanding reverse repos matures this week.

    The seven-day repo opened at 2.25% on Tuesday, unchanged from Monday's opening price.

    --MNI Beijing Bureau; +86 (10) 8532-5998; email: beijing@mni-news.com
    --MNI Singapore Bureau; tel: +65 9189-5705; email: sumathi.vaidyanathan@mni-news.com


  • Monday, May 23, 2016 - 19:53 Philly Fed's Harker: June Hike Appropriate With Stronger Econ 0

    --Would Want to Pause if Data Comes in Not Consistent With Forecast
    --Aware of Risks From Possible Brexit; Shouldn't Drive Decision

    PHILADELPHIA (MNI) - Philadelphia Federal Reserve Bank President Patrick Harker said Monday it would be appropriate to raise rates at the June meeting of the Federal Open Market Committee if the economy continues to improve as he expects.

    "Where I am right now is if the data comes in and it's not consistent with my view of the strengthening of the economy, then I would pause," Harker told reporters following a speech, "but otherwise I think a June rate increase is appropriate."


  • Monday, May 23, 2016 - 18:28 Philly Fed's Harker: Can 'Easily See' 2-3 Rate Hikes This Year 0

    --FOMC Should Still Move Slowly in Removing Monetary Policy Accommodation
    --2-3 Rate Hikes Forecast Does Not Imply Overly Aggressive Policy Path
    --'Guardedly Optimistic' About Growth, Sees Trend or Above in 2nd Half

    PHILADELPHIA (MNI) - Without saying when he thinks the next rate hike should happen, Philadelphia Federal Reserve Bank President Patrick Harker said Monday evening he could see two to three rate hikes this year if the economy continues to grow as projected.

    "Although I cannot give you a definitive path for how policy will evolve, I can easily see the possibility of two or three...

  • Monday, May 23, 2016 - 12:09 US Congress Week: House Panel to Consider Puerto Rico Bill 0

    --House Speaker, Democratic Leader Support Puerto Rico Bill
    --Key House Committee to Begin Puerto Rico Mark Up Tuesday Evening
    --Hill Panels to Discuss Budget, Tax Reforms

    WASHINGTON (MNI) - The House Natural Resources Committee has scheduled this week a two-day mark-up of bipartisan legislation to ease the financial crisis in Puerto Rico.

    The bill under consideration by the House Natural Resources Committee would create a powerful federal oversight board that would oversee Puerto Rico's fiscal affairs and guide the island through a court supervised process of debt reduction. The panel's...

  • Monday, May 23, 2016 - 11:41 IMF: 'Substantial Reprofiling' of Greek Debt Required 0

    --Greece Policy Plans Fall Far Short of What's Needed to Hit Targets
    --Upfront, Unconditional Component of Debt Relief Key, Signal to Mkts
    --Conditional Debt Relief Tied to Performance Can't Extend Beyond Program

    WASHINGTON (MNI) - A "substantial reprofiling" of European loans to Greece is required to bring the country's debt load down to the desired level, and even then the debt remains highly sensitive to shocks, the International Monetary Fund said in a report released Monday, which also warned that the debt relief must have an "upfront, unconditional" element.

    In its latest Debt...

  • Monday, May 23, 2016 - 11:34 Obama to Push Pacific Trade Pact, Warn on Brexit at G7 0

    --Administration Already Pressing Ahead on TPP's Implementation
    --Brexit High on Agenda But Little G7 Leaders Can Do

    WASHINGTON (MNI) - When President Barack Obama meets with the Group of Seven leaders in Japan Thursday, he will take the opportunity to highlight the U.S.-led Trans-Pacific Partnership and other regional trade pacts as a way to revive growth, while repeating a call for the UK to remain in the EU to avoid a financial shock of unknown magnitude, top advisers and analysts say.

    Facing an uncertain fate after getting battered in the election season at home, Obama's signature Pacific trade agreement may itself get a...