BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

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MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

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

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New Minimum Wage To Be Set, ‘Substantial Reduction’ In Inflation Expected

ARGENTINA
  • Reports suggested that Argentina will set a new minimum wage between Monday and Tuesday, according to Economy Minister Luis Caputo in an interview with La Nacion. Additionally, the economy minister said Argentina inflation will be closer to 10% than 20% in February, experiencing a “substantial reduction”.
  • When asked if he considered adjusting Argentina’s 2% crawling peg, Caputo said the decision about the official exchange rate depends on the central bank and how fast inflation falls. Caputo said Milei’s omnibus bill, which is stalled in congress, could be picked up again for another round of debates at any moment. - BBG
  • Separately, a deal between the EU and Mercosur that “makes everyone happy” may not be possible so the South American trade bloc is mulling breaking the treaty into parts, Argentina’s foreign minister said.
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