MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

CBI Price Expectations for Three Months Ahead Lowest Since December 2020

MNI: UK JUL CBI INDUSTRIAL TRENDS TOTAL ORDERS -32

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

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

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Food Price Caps to End in August; Unemployment Rate Falls to 3.8% in May

HUNGARY
  • The government has decided to maintain the current cap on the price of some food products until August 1, after which the scheme will end, Gergely Gulyas told a regular press briefing on Thursday. Central bank Governor Gyorgy Matolcsy has previously criticised Prime Minister Viktor Orban’s government for a series of “strategic mistakes” over spending and state intervention. He said pre-election spending and the introduction of a food price cap backfired as they pushed grocers to hike the costs of other products.
  • Hungary’s unemployment rate fell to 3.8% (Est: 3.9%) in May from 3.9% in April, according to data released by the Central Statistical Office this morning.
  • Fitch Ratings, which cut the outlook on Hungary’s investment grade to 'negative' and affirmed its ‘BBB’ rating at the start of the year, is scheduled to publish its latest sovereign credit assessment after hours today.
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