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: GERMANY Q2 FLASH GDP  -0.1% Q/Q (+0.1% FCST, +0.2% PRIOR)

MNI: ITALY Q2 FLASH GDP  +0.2% Q/Q (+0.2% FCST, +0.3% PRIOR)

MNI: BAVARIA JUL CPI +0.3% M/M, +2.5% Y/Y

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

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Russia Tries To Convince Western Analysts It Reduced Crude Output

OIL

Russia's Deputy Energy Minister Pavel Sorokin held a call this month with Western analysts about country's oil production, trying to convince them that Russia had reduced output as targeted, sources told Reuters.

  • "The call was about Russia reaching its target level of output in April," a source said about the rare call with analysts, probably the first since early 2022.
  • Last week Deputy Prime Minister Alexander Novak said Russia was abiding by its voluntary pledge to cut oil output by 500kbpd from February until the end of the year.
  • Russia was able to keep up oil production and exports thanks to its ability to ramp up sales of its energy products outside of Europe.
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