Inflation Trends - South Korea's consumer inflation cooled to the slowest pace this year [1] Monetary Policy Implications - The slowdown in inflation gives the central bank more room to resume its monetary easing cycle [1]

Market Trends - Gold is on track for a consecutive weekly gain, approaching a record high [1] - Investors are anticipating an inflation reading that could influence US monetary easing this year [1]

Monetary Policy - The Philippine central bank is widely expected to continue its monetary easing cycle [1] - The easing cycle aims to support the economy from US tariff risks [1] - Benign inflation supports the monetary easing policy [1]

Poland’s central bank is set to cut interest rates by a quarter point next week before a likely pause in its monetary easing, according to Monetary Policy Council member Henryk Wnorowski https://t.co/Cr3q0kes61 ...

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Chinese Economy and Macro Environment - **Key Focus**: Economic growth, monetary policy, property sector stabilization, and demand-side measures Core Insights and Arguments 1. **Slower Growth and Demand-Side Measures**: July economic data indicated softer growth momentum, with a month-on-month contraction in new bank lending and broad-based weakness in household and corporate lending. This may prompt faster rollout of demand-side measures to stabilize growth in H2 [2][7] 2. **Policy Support for Private Economy**: President Xi emphasized the need for measures to promote the private economy, including fair competition and settling local government arrears. Special local government bonds (SLGBs) are being used to accelerate repayments to private firms [3][7] 3. **Property Sector Intervention**: The central government may take a more active role in stabilizing the property sector, potentially asking state-owned enterprises (SOEs) to purchase unsold homes to clear excess inventories [4][8] 4. **Monetary Policy Stance**: The People's Bank of China (PBoC) maintained a moderately accommodative monetary policy, focusing on structural support for the real economy. Targeted support for SMEs and sectors like technology and green development is emphasized [9][11] 5. **Weakness in Property Data**: July property data showed significant declines, with property investment falling at the fastest pace since November 2022. The central government is expected to introduce more forceful solutions to address this weakness [8][9] 6. **Credit Support for Key Sectors**: The PBoC's report highlighted the need for targeted credit support in five major areas, which now account for approximately 70% of new loans [10][11] 7. **Preventing Capital Idleness**: The PBoC stressed the importance of preventing capital idleness in the financial system, aiming to improve efficiency rather than tightening monetary conditions [12][11] Additional Important Insights 1. **Economic Activity Indicators**: Various economic activity indicators, such as the operating rates of semi-steel tyres and cement shipping, showed mixed results, indicating a need for close monitoring of industrial performance [13][19] 2. **Container Shipping Costs**: Container shipping costs on China-Eastern US routes have declined, reflecting changes in global trade dynamics [70][11] 3. **Inflation Trends**: Crude oil and steel rebar prices have edged down, while agricultural product prices have increased seasonally, indicating varied inflationary pressures across sectors [57][65] 4. **Visitor Trends**: There has been an increase in mainland Chinese visitors to Hong Kong, suggesting a potential recovery in tourism-related sectors [76][78] This summary encapsulates the key points discussed in the conference call, focusing on the economic outlook, policy measures, and sector-specific insights that could influence investment decisions.

Monetary Policy - Mexico's central bank slowed monetary easing [1] - Benchmark interest rate reduced by 0.25 percentage point [1] - Previous rate cuts were 0.5 percentage point [1]

The Czech central bank held interest rates for a second meeting after some policymakers signaled an end to monetary easing due to concerns over soaring housing prices https://t.co/UxpOmUaZcl ...

Economic Indicators - Thailand's consumer price index experienced the most significant decrease since early 2024 [1] - Subdued energy costs contributed to the CPI decline [1] - Reduced utility tariffs also played a role in the CPI decrease [1] Monetary Policy Implications - The CPI decline provides the central bank with increased flexibility to consider monetary easing at its upcoming meeting [1]

Monetary Policy & Economic Growth - Bank Indonesia's policy rate cut is expected to stimulate the nation's economic growth [1] - Future monetary easing will be contingent on the stability of the Rupiah [1] Trade & International Relations - Indonesia announces a trade deal with the US [1]

Market Sentiment - A bullish stance on 99% of tokens is currently contrarian [1] - The market sentiment is expected to rapidly shift with monetary easing and the end of Quantitative Tightening (QT) [1]