MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

Intermediate PPI Deflation Continues To Fade in June

MNI: GERMANY JUNE PPI  +0.2 % M/M (+0.1% FCAST, 0.0% PRIOR)

Disappointing data but no market reaction

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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NBH Likely To Hike By 100bps

HUNGARY
  • The NBH is likely to maintain the pace of its policy tightening and hike its ‘core’ policy rate by 100bps at today's meeting, which would levitate the benchmark rate to 5.4% (highest since January 2013).
  • It is important that the NBH keeps a hawkish policy to limit the downside risk on the forint in order to anchor inflation expectations.
  • The central bank is also likely to proceed with a 30bps in the 1W depo rate on Thursday after pausing at 6.15% in the past month.
  • Government spokesperson Alexandra Szentkiralyi said that PM Orban’s cabinet may raise pensions by another 2%-3% in the summer after a 5% increase earlier this year (BBG).
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