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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OPEC+ Discuss Keeping Voluntary Cuts Until Year-End: Reuters

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OPEC+ members who have agreed to voluntary cuts totalling 2.2m b/d are discussing extending them until year-end, Reuters said, citing sources within the bloc.

  • Two OPEC+ sources told Reuters that another option was to extend the cuts only for Q3.
  • Two other sources did not rule out deeper cuts to support the market, or releasing oil back to the market if it decided that demand was increasing.
  • "We would not entirely rule out a plot twist - in the form of a deeper cut - given (Saudi energy minister) Prince Abdulaziz's (bin Salman) penchants for Hollywood twist endings," said Helima Croft from RBC Capital Markets, cited by Reuters.
  • OPEC+ is currently cutting output by 5.86m b/d, or around 5.7% of global demand.
  • The OPEC meeting will take place on June 2.
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OPEC+ members who have agreed to voluntary cuts totalling 2.2m b/d are discussing extending them until year-end, Reuters said, citing sources within the bloc.

  • Two OPEC+ sources told Reuters that another option was to extend the cuts only for Q3.
  • Two other sources did not rule out deeper cuts to support the market, or releasing oil back to the market if it decided that demand was increasing.
  • "We would not entirely rule out a plot twist - in the form of a deeper cut - given (Saudi energy minister) Prince Abdulaziz's (bin Salman) penchants for Hollywood twist endings," said Helima Croft from RBC Capital Markets, cited by Reuters.
  • OPEC+ is currently cutting output by 5.86m b/d, or around 5.7% of global demand.
  • The OPEC meeting will take place on June 2.