MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

EZ/UK T-Bill Calendar: Belgium Nov 7, 2024 Short TC Due Tuesday

EZ/UK Bond Supply Calendar: Italy, UK Auction on Tuesday

BoE Data Watch

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

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Pavel Comments On First 100 Days Of His Presidency

CZECHIA
  • President Petr Pavel will hold a media briefing at 09:00BST/10:00CEST to summarise his first 100 days in office. During this first phase of his presidency, Pavel backed his pro-Western declarations with actions, breaking with his predecessor's approach to foreign policy, which envisioned Czechia as a bridge between the West and the East.
  • The National Fiscal Council criticised the government's plan to borrow CZK137.4bn from the EU (down from the CZK170bn pencilled in initially), which alongside CZK33.4bn in grants will fund the country's post-COVID National Recovery Plan. The panel advising the government on fiscal matters said that the loan would increase the government's debt and negatively affect the structural budget balance.
  • In the absence of major domestic risk events, the focus turns to the ECB's monetary policy decision today. Locally, yesterday's comments from CNB Deputy Governor Jan Frait reduced the odds of interest-rate action next week, with the official noting that the case for renewed tightening has weakened.
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