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

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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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S&P Affirms Sovereign BBB Rating, Gross Fixed Investment Data Due

MEXICO
  • S&P affirmed Mexico’s 'BBB' long-term foreign currency and 'BBB+' long-term local currency sovereign credit ratings yesterday. The outlook remains stable. The ratings agency noted Mexico’s stable macroeconomic conditions, with solid domestic demand and moderating inflation, and assume the incoming government will put forward a 2025 budget that narrows the 5% of GDP fiscal deficit.
  • In other news, local media reports suggest that Audi and unionised workers are holding negotiations after the recent strike, with the aim of reaching a settlement between Audi’s 6.5% wage increase offer and the union’s initial 15.5% demand. AMLO expects an agreement to be reached soon.
  • On the data front, gross fixed investment figures for November are due at 1200GMT(0700ET), with consensus for a 19.8% y/y increase vs a 25.5% rise previously. Analysts are also looking for private consumption to rise by 4.8% y/y (vs 5.2% prior), while January domestic vehicle sales (prior 142,959) and December leading indicators (prior +0.01% m/m) will also be published.
    • Nov. Gross Fixed Investment NSA YoY, est. 19.8%, prior 25.5%
    • Nov. Gross Fixed Investment SA MoM, est. -1.8%, prior 1.9%
    • Nov. Private Consumption YoY, est. 4.8%, prior 5.2%
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