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

MNI: US Q2 GDP +2.8%

MNI: US JOBLESS CLAIMS -10K TO 235K IN JUL 20 WK

MNI:US JUN DURABLE NEW ORDERS -6.6%; EX-TRANSPORTATION +0.5%

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

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Incoming PM Sunak-'We Face Profound Economic Challenges'

UK

Incoming PM Rishi Sunak delivers a short piece to camera following his address to Conservative MPs earlier this afternoon.

  • States that the UK 'faces a profound economic challenge', “We know we need stability and unity and I will make it my upmost priority to bring our party and our country together,” 'I will serve you with integrity and humility'. Says that PM Truss "has led with dignity and grace through a time of great change"
  • His first address lasted a little more than a minute, with a more substantial speech likely to be required to avoid notable media and opposition criticism.
  • As stated in 1606BST bullet, the official handover of power will not take place until 25 or 26 October.
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