MNI China Daily Summary: Wednesday, July 3

MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI BRIEF: NBP Holds Reference Rate At 5.75% As Expected

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

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

May Trade Balance Weaker Than Expected From Gold Volatility

MNI: US MAY TRADE GAP -$75.1B VS APR -$74.5B

MNI: US JOBLESS CLAIMS +4K TO 238K IN JUN 29 WK

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

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

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Slovakian Tax on Russian Crude Takes Next Step

OIL

Slovakia’s government has approved the finance ministry’s proposal for a special tax on Russian crude processed in the country.

  • The revenue will be used to raise budget revenue for state anti-inflation measures.
  • The bill next heads to parliament for a vote.
  • The tax is expected to be around 30% of the difference between the price of the Russian crude and that from other suppliers.
  • The country has one refinery that relies on Druzhba pipeline supplies from Russia. Slovakia has sought an exemption from the potential EU oil bank until the end of 2024.
Energy BulletsCommodities
Energy BulletsCommodities

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