MNI China Daily Summary: Tuesday, Aug 20

RIKSBANK CUTS POLICY RATE BY 25BP TO 3.5%

China Repo Rates Rise On Tuesday

MNI: PBOC Net Drains CNY236.6 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1325 Tues; +2.12% Y/Y

MNI: EUROZONE JUN CONSTRUCTION OUTPUT +1.7% M/M, +1% Y/Y

Final Data Broadly Confirms Flash HICP Details

MNI: EUROZONE JUL FINAL HICP +0% M/M, +2.6% Y/Y

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

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PM To Deliver 'Reset' Policy Speech In Wake Of Narrow Confidence Vote Win

UK

Prime Minister Boris Johnson is set to deliver a policy speech this afternoon in Blackpool, as he seeks to reset his gov't agenda in the wake of a narrow win in Monday's confidence vote among Conservative MPs.

  • Johnson is due to talk about his gov'ts plans for dealing with rising inflationary pressures as well as efforts to get more people onto the housing ladder.
  • Politico reports that Johnson will state that “The global headwinds are strong. But our engines are stronger...And, while it’s not going to be quick or easy, you can be confident that things will get better, that we will emerge from this a strong country with a healthy economy.”
  • The PM is, however, not set to include a plan on cutting income tax, one of the potential areas speculated Johnson might move on swiftly in order to placate angry backbench Conservatives.
  • Johnson is slated to speak in the afternoon, although there is no set time for the speech as of yet.
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