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MNI: PBOC Sets Yuan Parity Higher At 7.1358 Fri; +2.17% Y/Y

CHINA PBOC CONDUCTS CNY379.3 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1358 FRI VS 7.1228

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MNI: PBOC Net Drains CNY218.4 Bln via OMO Thursday

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CPI Close To Expectations, Core-Core Sub 2%Y/Y But Some Resilient Details

MNI: UK AUG GFK CONSUMER CONFIDENCE INDEX -13

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

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European Commission Expected to Release EUR10bln of Funds to Hungary

HUNGARY
  • Hungary is ready for a financial compromise on EU aid to Ukraine but will torpedo efforts to start EU membership talks with Kyiv, Prime Minister Orban said in a Mandiner weekly podcast published this morning. “I’m ready to make a financial deal on financial issues,” Orban said, but added that “I’m not ready to make a financial deal on strategic or policy issues.”
  • Later today, the European Commission is expected to release about EUR10bln funds earmarked for Hungary following legislative changes in Budapest bolstering court independence. No specific timing for the decision has been disclosed.
  • As a reminder, Bloomberg reported yesterday evening that, according to the Prime Minister’s chief political advisor, Hungary is prepared to lift its veto on a EU funding proposal for Ukraine in return for billions in financing the bloc has been withholding from Budapest. Bloomberg noted that while the about EUR10bln of financing is expected to be released, Orban said he wants the EU to hand over the full amount — around EUR30bln — that was suspended on rule of law and graft concerns.
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