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CHINA SETS YUAN CENTRAL PARITY AT 7.1342 WEDS VS 7.1310

Headline CPI Ticks Down To 0.2% Y/Y, PPI In Line

CHINA JUNE FOOD PRICES -2.1% Y/Y VS -2.0% Y/Y MAY

CHINA JUNE CPI +0.2% Y/Y VS MEDIAN +0.4%; MAY +0.3% Y/Y: NBS

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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Finance Ministry Says Work On FX Loan Legislation Is Ongoing

POLAND
  • Finance Minister Magdalena Rzeczkowska confirmed that Poland is preparing legislation to mitigate the impact of toxic CHF mortgages on the country's banking sector. The final shape of the bill will depend on the verdict of the European Union's top court, which is expected later this year. Rzeczkowska noted that "there is no major risk in the Polish banking sector, which is resilient, with strong capital levels and liquidity." Meanwhile, Deputy Finance Minister Piotr Patkowski called on banks to play a more active role in seeking settlements with CHF loan clients.
  • Interia reports that Deputy Prime Minister Henryk Kowalczyk, who doubles as Agriculture Minister, is facing the risk of losing his portfolio amid protests of farmers, who oppose the imports of cheap Ukrainian wheat. The agrarian PSL party filed a motion of no confidence in the minister, which the news website says can paradoxically help Kowalczyk keep his Cabinet post, as the ruling party does not want to give an impression that it is yielding to pressure from the opposition. The Agriculture Ministry will hold talks with farmers on Ukrainian wheat imports on Wednesday.
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