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

this is a test, please ignore

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

US Treasury Auction Calendar

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

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Omnibus Bill Unexpectedly Returned To Committee In Major Setback For Milei

ARGENTINA
  • In an unexpected move, the government was forced to return its signature omnibus bill to committee yesterday, after it became clear that it had insufficient votes in the opposition-led lower house to get its approval. This was despite the lower house approving the bill in a general vote last week, ahead of a second vote on the individual articles this week. President Milei blamed the country’s provincial governors for destroying the bill.
  • Reports are that the government will now return to square one, with congressman Oscar Zago, one of Milei’s allies, filing a motion to ask for discussions to start from the beginning. President Milei has said that the government remains committed to its economic reform programme. Meanwhile, Economy Minister Luis Caputo said that the bill’s return had no impact on the plan to stabilise the budget as only 20-25% of the government’s economic measures were included in the bill and fuel tax hikes and spending cuts will make up for other missing revenue.
  • JP Morgan note that against this backdrop, the possibility of President Milei calling for a non-binding referendum has grown, something he suggested he could do if facing a logjam in Congress. They also suggest that Milei could insist on negotiating with the governors with additional concessions or issue a legal challenge to the decision.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.