MNI BRIEF: Japan Aug Confidence Index Unchanged

MNI: PBOC Net Drains CNY208.4 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1299 Thurs; +2.34% Y/Y

CHINA PBOC CONDUCTS CNY150.9 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1299 THURS VS 7.1216

MNI China Daily Summary: Wednesday, Aug 28

MNI: GERMANY NRW AUG CPI -0.1% M/M, +1.7% Y/Y

MNI: BAVARIA AUG CPI -0.1% M/M, +2.1% Y/Y

MNI: SPAIN AUG FLASH HICP +0% M/M, +2.4% Y/Y

UK: Week Ahead

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Banxico Decision Due Thursday

MEXICO
  • There is unanimous agreement among analysts that Banxico will hike rates by 75bps to 7.75% and signal additional tightening at the June meeting on Thursday.
  • Central bank committee rhetoric since the May meeting has been clear that the bank would need to step up the pace of tightening.
    • This will all be covered in our full preview in due course.
  • Mexico’s Foreign Affairs Minister Marcelo Ebrard said on Sunday he’s leading in polls among the contenders to succeed President Andres Manuel Lopez Obrador in the country’s 2024 election.
    • Ebrard, one of Lopez Obrador’s top advisers and Mexico’s key diplomatic liaison with the US government, joked at an event in Guadalajara that there was no need for him to officially announce his ambitions since the president had already repeatedly named him as a possible candidate.
    • Ebrard said he would travel around the country ahead of the party’s internal polling while still respecting laws on early campaigning.
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