MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: EUROZONE Q2 PRELIM FLASH GDP +0.6% Y/Y

MNI: EUROZONE Q2 FLASH GDP +0.3% Q/Q

MNI: NORTH RHINE WESTPHALIA CPI +0.3% M/M, +2.3% Y/Y

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

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FinMin Godongwana Says U.S. Won't Sanction S. Africa Amid Russia Row

SOUTH AFRICA
  • South African assets got some reprieve this morning as Finance Minister Enoch Godongwana said Sunday that the country took "a number of actions (...) in order to ensure that our relationship with the U.S. remains and that relationship should be normal and cordial," adding that the U.S. is unlikely to roll out punitive measures amid a diplomatic spat over an alleged supply of weapons to Russia. Bilateral relations came under renewed pressure after U.S. ambassador last week suggested that a sanctioned Russian cargo ship may have left South Africa loaded with weapons. Both sides held talks to defuse tensions over the weekend, while President Cyril Ramaphosa also spoke with his Ukrainian and Russian counterparts, with President Zelensky warning him of the possible consequences of supporting the aggressor.
  • Eskom reinstated Stage 6 load-shedding Sunday evening and are looking to move between Stages 4 and 6 through the week amid continued breakdowns and delays in maintenance works at power stations. The Mail & Guardian reported that the utility has asked the energy regulator (NERSA) for an additional diesel budget amid concerns that it might have to escalate power outages. An article by IOL suggested that an association assisting with load-shedding is penning guidelines for load-shedding up to Stage 16, which could be implemented if emergency conditions threaten to collapse the grid.
  • Local media outlets have confirmed reports doing the rounds in local social media on Friday, suggesting that technocratic advisors are leaving President Ramaphosa's office. His economic adviser Trudy Makhaya last week ended a five-year stint at the Presidency, becoming the fifth key advisor to resign this year, as South Africa navigates through multiple crises.
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