MNI BRIEF: Foreign Firms Content In China

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

Unemployment Falls To 11.3% In Q2, Driven By Services

1 and 3-Year Consumer Inflation Expectations Remain Unchanged

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

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

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Funding Judgement Delayed, Focus Remains on Government Assurances

HUNGARY
  • Few new details on the Hungary funding process over the weekend, although late on Friday, European Commissioner Reynders commented that any agreement over COVID recovery funds will be accompanied by “vigorous and effective” implementation of reform. Reynders added that the EU still have concerns over judicial independence, which the government must address.
  • A deadline originally slated for this week (November 22nd) has been pushed back to November 29th for the European Commission to rule on any potential approval for the COVID recovery plan as well as frozen pre-approved funding after rule of law concerns. Local focus will remain on any comments or clues, as markets expect approval for COVID funding plans – but with heavy conditions attached.
  • The NBH decision due tomorrow is expected to keep the base rate unchanged at 13.00%, with wages and unemployment rate data following later in the week.
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