MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

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

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Italian PM Draghi To Tender Resignation

ITALY

Reuters carrying headlines stating that, per an Italian govt statement, the Italian Prime Minister Mario Draghi will tender his resignation to President Sergio Mattarella.

  • Finance Minister Daniele Franco is a potential option for forming another coalition govt but the most likely scenario is a general election in early 2023.
  • The resignation follows the boycott of a confidence vote today by the 5-Star movement.
  • Draghi: "I will tender my resignation to the president this evening."
  • Draghi: "The conditions are no longer place for me to carry on."
  • Bullet edited to clarify that Draghi plans to tender his resignation to the Mattarella. There remains a strong possibility that Mattarella will decline the resignation and suggest Draghi attempt to reform a government.
  • Linda Yueh of Chatham House: "It remains to be seen whether Mattarella will accept Draghi’s resignation, or urge him to return to parliament to seek a confidence vote from parliament."
  • Eric Reguly at the Globe and Mail: "He will tender his resignation tonight as Italy prime minister but it is unlikely that President Mattarella will accept it."
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