MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: SPAIN JUL FLASH HICP -0.7% M/M, +2.9% Y/Y

MNI: SPAIN Q2 FLASH GDP +0.8% Q/Q, +2.9% Y/Y

MNI: SWISS KOF JUL ECONOMIC BAROMETER 101

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

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/RATINGS: S&P Affirms Mexico At BBB; Outlook Negative

MEXICO
  • Mexico's nationwide midterm elections on June 6 showed solid support for President Lopez Obrador and his allies, who, with a simple majority in Congress, remain well-placed to drive the policy agenda in the second half of the president's six-year term.
  • We assume ongoing cautious macroeconomic management, with net general government debt holding steady at about 48% of GDP over the next three years, while growth decelerates after a 5.8% rebound in 2021 as pressures on the business climate--some long-standing and some associated with recent policy steps--weigh on investment.
  • We affirmed our 'BBB' long-term foreign currency and 'BBB+' long-term local currency sovereign credit ratings on Mexico.
  • The outlook remains negative, indicating the risk of a downgrade over the coming 12 months due to either weakening public finances, likely arising from managing complex fiscal challenges related to PEMEX, or the possibility that some government initiatives could further weigh on the business climate.
  • Click for full report.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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