RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
Bank of Japan Signals Cautious Path Toward Further Rate Hikes Amid Yen Weakness 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
The People’s Bank of China (PBoC) is expected to raise the money market rates again, if needed, while keeping the benchmark interest rate unchanged.
The central bank will maintain medium- and long- term funding costs appropriate to shore up the economy through unconventional monetary policy tools such as the MLF and PSL. Further, the PBoC is likely to tighten controls on cross-border outflows, while further opening up domestic capital markets to attract capital inflows, Scotiabank reported.
China will prioritize economic, financial and social stability ahead of a twice-a-decade leadership reshuffle at the 19th CPC National Congress due to be held in November. China’s top leadership has committed to seeking progress while maintaining stability.
Offshore yuan funding costs are expected to soar again as long as the depreciation pressure on the yuan intensifies in the future, which will help alleviate market concerns and stabilize the yuan exchange rate.
Meanwhile, China’s equities and bonds will finally be included in global benchmark indices.
