MNI China Daily Summary: Friday, June 28

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

Inflation Slowed in June, Shaking Off May Hotel Price Jump

Broad-based Deceleration In June Core Metrics

MNI: ITALY JUN FLASH HICP +0.2% M/M, +0.9% % Y/Y; MAY +0.8% Y/Y

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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Most Economists See Risk Of NBP Policy Error, Election Campaign Still In Focus

POLAND
  • Poland summoned Russia's ambassador after the Kremlin released a recording of President Vladimir Putin's speech, in which he accused the country of "hatching revanchist plans" to seize parts of Ukraine and said that Poles should remember that their western territories were a "gift" from Joseph Stalin. The latest escalation in tensions between Poland and Russia came as Warsaw decided to move more troops to its eastern border due to the risks posed by the presence of Wagener Group mercenaries in Belarus.
  • Rzeczpospolita reports that 81% of the 42 surveyed economists expect the NBP to lower the policy rate by at least 50bp until the end of this year, while others also expect rate cuts, but of a smaller magnitude. At the same time, only 10% of respondents said that lowering rates could be justified this year. Around 45% of economists told the newspaper that interest rates should remain unchanged for now and a similar number said that they should be even higher.
  • Speaking at a campaign event, ruling Law and Justice party leader Jaroslaw Kaczynski ruled out forming a coalition with the far-right Confederation and said that the party's economic agenda consisted of "the ideas of lunatics and kids." Opinion polls put Confederation in third place and suggest that it might emerge as a kingmaker after the upcoming parliamentary election.
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