MNI China Daily Summary: Friday, July 5

MNI BRIEF: PBOC Plans To Borrow Hundred Bln Yuan CGB - Press

MNI BRIEF: BOJ Consumption Activity Index Flat M/M In May

MNI: PBOC Net Drains CNY48 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1289 Fri; -0.35% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: EUROZONE MAY RETAIL SALES +0.1% M/M, +0.3% Y/Y

Retail Trade Broadly In-Line With Consensus

Weak manufacturing in France and Germany in May; energy production up

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

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

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Fiscal Chapter Removed From Milei’s Reform Bill

ARGENTINA
  • Economy Minister Caputo said on Friday that the government would drop the entire fiscal chapter from President Milei’s reform bill in order to get the bill through Congress. The fiscal chapter included tax hikes on major agricultural exports, an increase in income tax and reforms to pensions. Caputo said that the government was still committed to its zero deficit goal and would take some time to consider its next fiscal steps. With the fiscal chapter removed, the bill is expected to be approved by Congress, with a vote as soon as tomorrow.
  • Separately, Caputo also announced that the Economy Ministry would take over the country’s Infrastructure Ministry. This follows reports last week that Milei had fired his Infrastructure Minister for leaking information from his biweekly cabinet meetings.
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