CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Inflation Data Continues To Exert Pressure On BCB

BRAZIL
  • Higher inflation data earlier today will place further pressure on next week’s Copom decision. The central bank have signalled a reduction in their 150bp hiking pace, however, renewed pressure on prices both domestically and globally has increased the chances of another aggressive 125bp hike next week.
  • Brazil’s congress approved a bill to reduce ICMS taxes on fuels and cut to zero the PIS/Cofins taxes on diesel, cooking gas and aviation fuel. The measure is now awaiting President Jair Bolsonaro’s sign-off.
    • It remains unclear how much of the tax reduction, which will have a fiscal impact of 19 billion reais ($3.8 billion), will be passed on to consumer prices.
  • Economy Minister Paulo Guedes said government is mulling additional measures in case the geopolitical crisis in Eastern Europe continues to push international oil prices higher.
  • After the approval of the bill to reduce fuel taxes, government will now focus on the fertilizers industry as Russia’s block on exports of key chemical ingredients may pose a serious risk to Brazil’s agricultural-based economy. (BBG)
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.