CHINA PBOC CONDUCTS CNY10 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1196 FRI VS 7.1192

MNI BRIEF: Japan May Core CPI Rises 2.5% Vs. April +2.2%

MNI China Daily Summary: Thursday, June 20

MNI: PBOC Net Injects CNY18 Bln Via OMO Thu; Rates Unchanged

CHINA PBOC CONDUCTS CNY20 BILLION VIA 7-DAY REVERSE REPOS THU

MNI JAPAN MAY CORE CPI +2.5% Y/Y; APRIL +2.2%

UK GfK Highest Since Nov-21

MNI: UK JUN GFK CONSUMER CONFIDENCE INDEX -14

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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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FY23: Biden Blames 'Predecessor' For Fiscal Mismanagement

WHITE HOUSE

President Joe Biden has delivered remarks at the White House announcing his budget for FY23. Biden: 'Its been a busy couple of days.'

  • Biden says the budget announced today shows:
    • 'A clear message of fiscal responsibility,'
    • 'safety and security,'
    • 'investments needed to build a better America.'
  • The president reiterates his State of the Union pledge to spend more on policing and ditch the 'defund the police' tag.
  • Biden says the labour market is strong and unemployment is low because investment made in the pandemic response.
  • Biden: Pandemic spending will be dramatically less than last year.
  • Biden: 'Corporations and the very wealthy will pay their fair share.'
  • Biden: 'No-one earning under USD$400k will pay more tax.'
  • Biden says the US will need more investment in space, technology, and cyber to compete with geopolitical adversaries Russia and China.
  • Biden again promises Build Back Better items like free universal pre-K, to cap childcare at 7 percent, and provide more funding for federal Pell grants.
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