MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Fiscal Tensions Ease, But BCB’s Galipolo Flags Concern On Services Inflation

BRAZIL
  • Local media report that Finance Minister Haddad managed to set limits to tax benefits to the country’s events sector, with the benefit now set to end in 2026 or when it reaches a ceiling of BRL 15bn. In a further sign of improving relations between the government and congress, lower house Speaker Lira also said on TV last night that he had made a mistake when making negative comments about Minister of Institutional Relations Padilha recently.
  • Turning to today’s agenda, President Lula is reported to be trying to postpone a congressional session that could overturn presidential vetoes related to budget cuts, while Haddad may send the first of two bills to regulate the tax reform.
  • Brazilian assets are underperforming today, with the currency ~0.7% weaker against the dollar and DI swap rates c.15bp higher across the curve. The BCB’s Gabriel Galipolo is speaking at an event in Sao Paulo currently, with the director noting concern about the rise in services inflation and the need for time to understand how the adjustment in the US yield curve will affect the BCB’s inflation mandate.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.