BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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

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Senate Expected To Approve Pension Reform Bill Today

COLOMBIA
  • The Senate is expected to vote to approve President Petro’s pension reform proposal today, opening the door for the bill to become law, given the government’s controls of the lower house. Amongst the articles approved so far by the Senate was a new clause that will allow pension funds to charge 0.7% on assets managed, in addition to the fees charged upfront. Senator Moreno said that the proposal will help private funds to remain financially viable as the government’s bill cuts private pension savings by moving more workers into the public system.
  • In other news, the country is expected to resume regular working hours today, after emergency holidays which were imposed due to the severe drought which is straining the electricity supply. Last week, it was reported that the government is taking further measures to stem the risk of power shortages, given the critically low water levels in hydro reservoirs.
  • On the data front, the focus this week will be on March industrial and retail confidence numbers, due for release tomorrow.
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