MNI BOK WATCH: More Evidence Needed To Cut Rates, Says Rhee

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

Activity data stronger-than-expected; little impact on near-term monpol

MNI: GERMANY JUNE FINAL HICP +2.5 % M/M, +0.2% Y/Y

MNI: GERMAN JUN CPI +2.2 % Y/Y

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

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

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

President Lula Downplays Concerns About Dispute With Congress

BRAZIL
BulletEM BulletEmerging Market NewsHomepage
  • In a press conference today, President Lula downplayed concerns about a dispute with congress, saying that such things are a normal part of governing, adding that he’s not considering any cabinet changes. Following reports in local media that he had met with lower house Speaker Arthur Lira Sunday to ease tensions, Lula confirmed that such a meeting has taken place, but did not provide details about what was discussed.
  • Meanwhile, Congress is expected to vote today on a proposal to maintain a tax benefit for the events sector. O Globo report that Finance Minister Haddad has reached a consensus to limit the benefit to BRL 15bn until 2026. Haddad is also reported to have reached an agreement with Lula on the text to regulate tax reform.
  • To recap, it was reported yesterday that the government is trying to push back on plans in Congress to hold votes this week that could cost the government as much as BRL 96.3bn in the period 2024-2026. Lula’s comments suggest that some progress has been made.
170 words

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.
  • In a press conference today, President Lula downplayed concerns about a dispute with congress, saying that such things are a normal part of governing, adding that he’s not considering any cabinet changes. Following reports in local media that he had met with lower house Speaker Arthur Lira Sunday to ease tensions, Lula confirmed that such a meeting has taken place, but did not provide details about what was discussed.
  • Meanwhile, Congress is expected to vote today on a proposal to maintain a tax benefit for the events sector. O Globo report that Finance Minister Haddad has reached a consensus to limit the benefit to BRL 15bn until 2026. Haddad is also reported to have reached an agreement with Lula on the text to regulate tax reform.
  • To recap, it was reported yesterday that the government is trying to push back on plans in Congress to hold votes this week that could cost the government as much as BRL 96.3bn in the period 2024-2026. Lula’s comments suggest that some progress has been made.