MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI: US Q2 GDP +2.8%

MNI: US JOBLESS CLAIMS -10K TO 235K IN JUL 20 WK

MNI:US JUN DURABLE NEW ORDERS -6.6%; EX-TRANSPORTATION +0.5%

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

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Amid UK Political Turmoil Gov't Still Planning To Debate NI Protocol Bill

EU-UK

Despite the turmoil in UK politics at present, the leader of the House of Commons has put out a provisional legislative schedule for the week of 18 July which includes the second and third day of the Committee stage of the controversial Northern Ireland Protocol bill.

  • The first day of the Committee stage is set to take place on Wednesday 13 July, with the second day on Monday 18 July and third on Tuesday 19 July.
  • With no announced plans yet for the remaining stages of the bill in the Commons it seems unlikely that the bill will pass all of its Commons stages before the House rises for summer recess on Thursday 22 July.
  • Crucially, what is also unclear is whether the next prime minister and their gov't will seek to continue progressing with the NI Protocol bill, which while appeasing unionists in Northern Ireland risks a major falling out with the European Union. Alternatively, the new leader could be an even more hard-line Brexiteer, stiffening the NI Protocol bill and risking a trade war with the EU.
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