MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

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

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Industrial Production Records Deepest Plunge Since 2020

HUNGARY
  • Hungary’s industrial production fell 5.8% y/y in April (Prior: -4.0%), significantly missing expectations of a smaller 1.1% contraction and marking the biggest drop since the onset of the Covid lockdown in 2020. The monthly figure fell 2.5% versus a revised 0% in March.
  • MTI report that the government on Tuesday submitted its draft laws on taxes for next year to parliament, with the national assembly expected to vote on the proposals before its summer recess, as per a statement released by the finance ministry. As a reminder, one of the government’s fiscal goals is to bring the budget deficit below 3% of GDP in 2024.
  • Minutes of the central bank’s latest meeting will be published at 1300BST/1400CET. There are no other economic releases on the docket today ahead of CPI (Est: 22.3% y/y), trade balance and budget balance data crossing tomorrow morning.
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