MNI China Daily Summary: Monday, June 17

MNI BRIEF: China To Retaliate Against EU Pork Products

MNI BRIEF: China Consumption Can Continue Acceleration - NBS

MNI: PBOC Conducts CNY182 Bln Via 1Y MLF Mon; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1149 Mon; -1.41% Y/Y

CHINA PBOC CONDUCTS CNY4 BILLION VIA 7-DAY REVERSE REPOS MON

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

EZ/UK T-Bill Calendar: 6-Month ESM-Bill Auction on Tuesday

Empire Survey Shows Improving Manufacturing Optimism At End-Q2

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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PM Trudeau Facing Major Backlash From Decision To Prorogue Parliament

CANADA

Canadian Prime Minister Justin Trudeau is facing a significant public and media backlash from his decision to prorogue (suspend) parliament until September 23.

  • While not uncommon for a PM to prorogue parliament mid-session, Trudeau's move has been seen as an attempt to avoid scrutiny over an ongoing scandal involving the WE Charity that has already claimed the scalp of his finance minister Bill Morneau, who resigned as a minister and MP on August 18.
  • Prorogation will mean that the gov't will face no parliamentary scrutiny up until late-September, where there will be a Speech from the Throne (setting out the gov'ts legislative agenda for the coming session) and a confidence vote (Trudeau's Liberals govern as a minority in the House of Commons, relying on the support of the left-wing New Democratic Party).
  • Opinion polling has shown a sharp slump in support for the centre-left Liberals, down from an average of 41% in June to 35% in August. An internal campaign poll on August 13 had the centre-right Conservatives leading the Liberals 33%-30%, the first lead for the party since February 2020.
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