MNI BRIEF: China June CPI Hits Three Month Low

RBNZ MPC SAYS OCR "HAS SIGNIFICANTLY REDUCED CPI"

MNI: RBNZ LEAVES OCR AT 5.5%

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

Headline CPI Ticks Down To 0.2% Y/Y, PPI In Line

CHINA JUNE FOOD PRICES -2.1% Y/Y VS -2.0% Y/Y MAY

CHINA JUNE CPI +0.2% Y/Y VS MEDIAN +0.4%; MAY +0.3% Y/Y: NBS

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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UBS on Most Vulnerable EM Countries

EMERGING MARKETS
  • UBS identifies several countries as vulnerable according to this analysis:
  • Latin America:Colombia stands out as highly vulnerable, followed by Chile. Despite having positive real rates, Colombia also has a high foreign currency debt burden. Chile has a large external funding gap and short-term foreign currency debt, partially mitigated by the fact thatChilean companies actively hedge their foreign currency exposure.
  • EMEA:South Africa exhibits negative real rates and fairly elevated foreign currency liabilities in the near term. CEE: Widening current account balances in the Central andEastern European economies are also worth monitoring.
  • Asia: Although the region is the least vulnerable among emerging markets, the Philippines and Thailand—both net energy importers—are set to experience deteriorating basic balances this year given elevated energy prices.
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