MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

CHINA PBOC CONDUCTS CNY267.3 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1334 TUES VS 7.1335

MNI: US REDBOOK: JUL STORE SALES +4.8% V YR AGO MO

ECB Not Currently Concerned About Core Goods Re-acceleration (2/2)

Core Goods Pipeline Pressures Yet To Stall Disinflation Progress (1/2)

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

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Government Approves to Increase 2022 Budget Gap To 330bn CZK

CZECHIA
  • Yesterday, Czech Government approved to increase the 2022 budget gap to 330bn CZK, 50bn CZK more than what the lower house passed in March.
  • That represents a 0.8% readjustment (relative to the country's GDP) ,raising the potential 2022 deficit ratio to 5.5% for this year.
  • The increase was mostly due to the Ukraine war impact (energy subsidies for households and companies).
  • This week, we saw that while Vice Governor Zamrazilova could consider ‘all options’ for the next meeting depending on GDP/wage data, Jan Frait said that he will be deciding between rate stability and small hike for the next meeting on August 4.
  • Next economic data to watch will be Q2 GDP print coming out on July 29, expected to fal by 0.4% QoQ (vs. 0.9% in Q1).
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