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

CBI Price Expectations for Three Months Ahead Lowest Since December 2020

MNI: UK JUL CBI INDUSTRIAL TRENDS TOTAL ORDERS -32

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

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

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Eskom to Cut 4,000MW From Grid 4pm-Midnight

SOUTH AFRICA
  • Although Numsa has stressed the union wants to avoid a strike by reaching a pay-rise deal, its readying members after what is “seemingly going to be a national strike”, Business Day reports. This follows an unsuccessful two days of talks between motor employers and the union. Spokesperson Phakamile Hlubi-Majola told Business Day that “the offer we received from the FRA (Fuel Retailers Association) is an offer which we cannot accept”. Numsa, who have over 400,000 members, are holding out for an offer which reaches the point of inflation.
  • Following a post on Twitter, Eskom will cut 2,000 megawatts from 5am to 4pm before ramping up to 4,000MW thereafter due to the “the continued shortage of generation capacity”.
  • June electricity consumption and production data releases later today. The prior prints read -2.5% YoY and -4.3% YoY respectively, with electricity production YoY the lowest in over a year. No other major data releases are planned for today.
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