MNI China Daily Summary: Tuesday, Aug 20

RIKSBANK CUTS POLICY RATE BY 25BP TO 3.5%

China Repo Rates Rise On Tuesday

MNI: PBOC Net Drains CNY236.6 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1325 Tues; +2.12% Y/Y

MNI: EUROZONE JUN CONSTRUCTION OUTPUT +1.7% M/M, +1% Y/Y

Final Data Broadly Confirms Flash HICP Details

MNI: EUROZONE JUL FINAL HICP +0% M/M, +2.6% Y/Y

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

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FinMin Sees Borrowing Targets on Track, Despite Previous Concerns

CZECHIA
  • On food prices, Pravo writes that supermarket chains have little reason to raise food prices ahead as the government are pressuring VAT and agricultural producer prices are also on the decline.
  • Late yesterday, the finance minister Stanjura stated he sees the Czech Republic on track to meet budget deficit targets despite some concerns earlier this year. A record dividend payment from CEZ AS and the windfall tax across a selection of industries have helped keep borrowing targets on track.
  • On the Ukraine war, Seznamzpravy.cz cites the President as saying he foresees a turn in the Ukraine war next year that will not be favourable toward either Kyiv or the western allies.
  • Within government, the Senate’s economic committee is set to meet later today, from 10am local time (0900GMT). The CNB decision is due on Thursday, with the bank seen trimming rates by 25bps to 6.75%.
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