MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

MNI: BELGIUM JUL BNB BUSINESS SURVEY -12.3

MNI: US Q2 GDP +2.8%

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Trudeau's Economic Reset Speech May Lack Fiscal Anchor, Push Green Shift

CANADA
(MNI) OTTAWA
  • PM Justin Trudeau's Liberal government re-opens Parliament Wednesday with a "Throne Speech" that triggers a confidence motion, and he needs one of 3 opposition parties to support him to avoid a snap election.
  • Two of 3 opposition leaders are in Covid isolation, boosting chances the government passes the confidence test.
  • The NDP and Bloc parties both favor more social spending, so Trudeau can easily gather needed support that way. Even new Conservative leader has said the budget should only be balanced over the next decade, a shift away from prior hawkishness.
  • Investors and biz groups have told MNI the main thing they want is a restored "fiscal anchor" like a debt:GDP target or spending caps.
  • Throne Speech often sets high level economic goals rather than any detailed economic/fiscal numbers; it's due at 210pm EST and webcast is here.
  • Trudeau could also follow the example of 2 provincial premiers who have called snap elections amid the pandemic, by delivering a "poison pill" speech the opposition must reject.
  • That case is weakened because Trudeau's of less popularity lately, replacing his Finance Minister, ethics probes into his backing a CAD900m WE Charity contract despite family ties.
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Homepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Homepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.