MNI China Daily Summary: Friday, July 12

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

MNI BRIEF: China Steel Export Growth Slows In June

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

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

CHINA H1 NEW LOANS CNY13.27 TRLN VS JAN-MAY CNY11.14 TRLN

Inflation Momentum Ticks Up Despite Lower-than-expected Print

Services Still Sticky As Spain HICP Revised A Tenth Higher

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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VdL-NI Protocol Only Way To Ensure Peace & Stability On Island Of Ireland

EU-UK

European Commission President Ursula von der Leyen speaking about EU-UK relations and the Northern Ireland protocol on a trip to Dublin, Ireland this morning.

  • Says that "[The protocol] its the only solution to protect peace and stability on the island of Ireland and protect the integrity of the single market"
  • Says that she cannot imagine the UK not showing pragmatism and flexibility on the issue [lack of flexibility from the EU is a key complaint of the UK side in talks on the protocol], adding that the protocol is "certainly not the problem but is the solution....[it is the] only solution we've found with the UK"
  • Separately, on the proposed minimum 15% corporate tax rate being proposed globally (a sensitive topic in low-tax Ireland), VdL states "The number of 15% is a proposal to the leaders. There are many details that have to be worked out. The broad frame that is put on the table, we welcome that frame."
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