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MNI China Daily Summary: Monday, July 8

MNI BRIEF: BOJ: Wage Hikes At Smaller Firms Spreading

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Lula To Name Galipolo As New BCB Governor, BCB Focus Survey Due

BRAZIL
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • O Globo has reported that President Lula is set to name BCB Director Gabriel Galipolo as the new central bank governor. The announcement will be made next month, according to the report.
  • Today, the BCB will publish its weekly Focus survey at 1225BST(0725ET), with continued attention on analysts forecast for inflation and USDBRL, which have risen steadily over recent weeks. Last week, analysts raised their year-end CPI forecast to 4.0% and their USDBRL estimate to 5.20. Later this week, focus will turn to IPCA inflation data on Wednesday, when the market expects a further rise above 4%, followed by May retail sales figures on Thursday.
  • In other news, Argentina’s President Milei gave his backing to former President Jair Bolsonaro in a visit to Brazil over the weekend. In his speech at a rally, however, Milei did not make any further remarks against President Lula, avoiding any further escalation in tensions between the pair.
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  • O Globo has reported that President Lula is set to name BCB Director Gabriel Galipolo as the new central bank governor. The announcement will be made next month, according to the report.
  • Today, the BCB will publish its weekly Focus survey at 1225BST(0725ET), with continued attention on analysts forecast for inflation and USDBRL, which have risen steadily over recent weeks. Last week, analysts raised their year-end CPI forecast to 4.0% and their USDBRL estimate to 5.20. Later this week, focus will turn to IPCA inflation data on Wednesday, when the market expects a further rise above 4%, followed by May retail sales figures on Thursday.
  • In other news, Argentina’s President Milei gave his backing to former President Jair Bolsonaro in a visit to Brazil over the weekend. In his speech at a rally, however, Milei did not make any further remarks against President Lula, avoiding any further escalation in tensions between the pair.