MNI China Daily Summary: Tuesday, July 9

CORRECTED-MNI: China H2 Steel Outlook Subdued

MNI BRIEF: Gradual, but Decisive ECB Cuts Needed –Giorgetti

MNI BOK WATCH: Slowing Inflation Puts Q4 Cut In Sight

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

US NFIB JUN SMALL BUSINESS INDEX 91.5

Asia Sov Curves Bull-Steepen, Indon To Reduce Bond Issuance

MNI: UK BRC JUN BY VALUE SHOP SALES LFL -0.5% YY, TOTAL -0.2% YY

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Local News: Government Looking To Overhaul Merida Initiative

MEXICO
  • The Mexican government is looking to overhaul the Merida Initiative, a U.S. aid program worth $3 billion, Washington Post reports, citing an interview with Mexican Foreign Minister Marcelo Ebrard. (BBG)
    • Mexican officials have been holding talks with U.S. officials since late spring on how to improve cooperation against drug cartels and other criminal groups
    • Ebrard told Washington Post that the program is "dead" and that "we are now in another era"
  • The IMF has upped its 2021 growth forecast to 6.3%, a 1.3% rise on its last estimation in April and the agency's third upward revision. Its growth prediction for 2022 was also bumped — 1.2 percentage points to 4.2%.
    • However, the figure still lags behind the government's prediction of 6.5% growth for 2021 but above the 6% forecast by independent economists surveyed by Citibanamex. (Mex daily News)
  • Mexico reported 19,028 new Covid-19 cases Wednesday, the highest rise since late January, according to Health Ministry data.
    • General hospital bed occupancy +1ppt to 43%, ventilator bed occupancy +1ppt to 36%.
    • Mexico administered a record 1,453,638 doses of coronavirus vaccine July 27.
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