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CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

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IFO disappoints

MNI: GERMANY JUL IFO BUSINESS CLIMATE INDEX 87

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

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Fiscal Framework Bill To Be Submitted, Credit Measures Awaited

BRAZIL
  • As a reminder, Planning Minister Tebet said on Monday that the government would submit the fiscal framework bill by Tuesday. With a smooth passage expected in the lower house, it will be possible, within 15 days, to take it to lower house floor, Speaker Lira said.
  • Separately, Brazil’s economic team is preparing a plan to support local credit markets that have been weakening amid the country’s high interest rates. A group of 14 measures will be announced this week, Finance Minister Fernando Haddad told reporters on Monday, adding that they are being designed to “improve the credit environment” in the country.
    • Haddad said he is discussing ways to lower credit card interest rates, which stand above 400% a year among the country’s largest banks, according to central bank data.
  • Vale will likely report an increase in iron ore production year over year, with output reaching 67.7m tons last quarter, according to an average estimate of four analysts surveyed by Bloomberg. Vale will release output report after markets close.
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