MNI BRIEF: JGB Reduction Scale To Be "Suitable" - BOJ's Ueda

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BOJ DECIDES TO CUT JGB BUYING; RELEASE DETAILS AT APRIL MEETING

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Scotiabank Note Two Main Issues on Local Agenda

PERU
  • According to Scotiabank, there are two items of particular importance on the congressional agenda over the next two weeks. One is the 2024 budget, the discussion of which is currently underway and the other is regarding another private pension withdrawal bill.
    • “The Executive is grappling with Congress over spending initiatives that Congress is seeking to introduce. The budget already calls for a 12% increase in spending. Given that the fiscal deficit is likely to begin 2024 at 3% of GDP, too much additional spending might become an issue. Congress has until the end of the month to approve the budget, but this could occur earlier if an agreement is reached.”
    • “The second item is the bill for a seventh withdrawal from the private pension fund system. A Congressional spokesperson has informally mentioned the likelihood that the committee studying the new withdrawal would have the initiative ready for discussion on the floor by November 30th.”
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