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 China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

MNI BRIEF: Japan June Services PPI Rises 3.0% Vs. May's 2.7%

US Treasury Auction Calendar

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

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Energy Ministry Aims to Raise Fuel Output After Refinery Attacks

RUSSIA
  • Russia aims to raise output of petroleum products and improve fuel logistics after recent “incidents at refineries,” Interfax report, citing Energy Minister Nikolai Shulginov. The Energy Ministry is constantly monitoring the situation in the domestic market, he was reported as saying.
  • Foreign companies exiting the Russian market have paid to the budget RUB 35.7bln ($386m) in “exit taxes” in the first two months of 2024, RBC report. The amount exceeds the FY 2024 budget plan for the “exit tax” by 17 times.
  • Ahead of planned tax reforms, Russia's Federal Tax Service reported that the tax revenues of the country's budget system grew by 11% to RUB 46.8trln in 2023, with profit tax revenue increasing by 25% to RUB 7.9trln, Kommersant report. Tax revenues are expected to grow by another 12% in 2024.
  • The Federal Statistics Service will publish February producer price index, weekly inflation and 1Q consumer confidence index data at 16:00GMT.
  • The CBR rate decision the key event of the week on Friday. Consensus is unanimous among sell-side for the Board to leave the rates unchanged at 16%. Our preview for that decision, with sell-side analyst views, will be released later today.
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