MNI China Daily Summary: Friday, June 28

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

Inflation Slowed in June, Shaking Off May Hotel Price Jump

Broad-based Deceleration In June Core Metrics

MNI: ITALY JUN FLASH HICP +0.2% M/M, +0.9% % Y/Y; MAY +0.8% Y/Y

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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SOUTH AFRICA: Cabinet Talks Bring Progress Despite Tensions Over Leaked Letters

SOUTH AFRICA
EM BulletStoryBulletEM Political RiskEmerging Market NewsEM Policy News
  • The Democratic Alliance (DA) struck optimistic tones after its leader John Steenhuisen emerged from a meeting with President Cyril Ramaphosa to discuss the line-up of the new cabinet. Sources told the Mail & Guardian that some tentative progress has been made, even as the two largest parties continued to wrestle over the allocation of portfolios in a seemingly tense atmosphere. A leaked letter penned by DA Federal Chair Helen Zille suggested that her party wanted around 12 cabinet seats, including the Deputy President position (which could only be swapped for both a Minister in the Presidency and a Deputy Finance Minister). The ANC rejected these demands, calling them "outrageous" and writing in a statement that "negotiating through leaking demands to the media is an act of bad faith and this practice will not help the cause of any party."
  • The uMkhonto weSizwe (MK) Party's 58 MPs are expected to be sworn in today after they boycotted the first sitting of the National Assembly last Friday. The party said that the decision to send its representatives to participate in parliamentary meetings does not mean that it accepts the election results.
  • The National Treasury will today sell ZAR1.25bn of 8.250% 2032 bonds, ZAR1.25bn of 8.875% 2035 bonds and ZAR1.25bn of 9.000% 2040 bonds.
  • South Africa's leading indicator for April will be released at 08:00BST/09:00SAST. Non-farm payrolls for Q1 will be out at 10:30BST/11:30SAST.
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  • The Democratic Alliance (DA) struck optimistic tones after its leader John Steenhuisen emerged from a meeting with President Cyril Ramaphosa to discuss the line-up of the new cabinet. Sources told the Mail & Guardian that some tentative progress has been made, even as the two largest parties continued to wrestle over the allocation of portfolios in a seemingly tense atmosphere. A leaked letter penned by DA Federal Chair Helen Zille suggested that her party wanted around 12 cabinet seats, including the Deputy President position (which could only be swapped for both a Minister in the Presidency and a Deputy Finance Minister). The ANC rejected these demands, calling them "outrageous" and writing in a statement that "negotiating through leaking demands to the media is an act of bad faith and this practice will not help the cause of any party."
  • The uMkhonto weSizwe (MK) Party's 58 MPs are expected to be sworn in today after they boycotted the first sitting of the National Assembly last Friday. The party said that the decision to send its representatives to participate in parliamentary meetings does not mean that it accepts the election results.
  • The National Treasury will today sell ZAR1.25bn of 8.250% 2032 bonds, ZAR1.25bn of 8.875% 2035 bonds and ZAR1.25bn of 9.000% 2040 bonds.
  • South Africa's leading indicator for April will be released at 08:00BST/09:00SAST. Non-farm payrolls for Q1 will be out at 10:30BST/11:30SAST.