MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

Indeed Wages Tick Higher, But Future Revisions Are Likely

ITALY MAY INDUSTRIAL PRODUCTION +0.5% M/M ; -3.3% WDA Y/Y

Contrasting Momentum Dynamics Underscore Need For July Data

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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FM Sturgeon: No Democratic Basis For UK Gov't To Deny IndyRef2

SCOTLAND

Speaking alongside the leader of the Scottish Greens, First Minister Nicola Sturgeon states that - in the wake of a 'power sharing partnership' between her Scottish National Party (SNP) and the Greens - "it impossible on any democratic basis for the UK government to resist the right of the Scottish people to choose their own future." Until tested in courts, it remains to be seen whether the Scottish parliament has the requisite powers to call a referendum on independence, let alone a binding one.

  • The agreement sees a pro-independence majority in place in the Scottish Parliament, even if the deal does not officially create a coalition gov't.
  • Sturgeon states that the SNP and Greens will "retain distinctive identities", saying that "This is not a coalition and we do not agree on everything...[the deal is] about doing politics and governance better"
  • The pro-independence parties are likely to hold fire on seeking an immediate independence referendum in 2021 or early 2022, with opinion polling from the summer showing more respondents in favour of remaining as part of the UK than for Scotland to become an independent nation state.
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