MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Analyst Views Post-September MPC Meeting - Aug-22 first hike (3/4)

BOE
TD SecuritiesAssuming "smooth conclusion" of furlough, expect 15bp hike in Aug22 and 25bp hike in Nov22 which will trigger an "organic reduction" in the BOE balance sheet.
BerenbergExpect two hikes in 2022: 15bp hike in Aug22 and 25bp hike in Dec22. "However, the risks to this call are increasingly tilting towards a hike as soon as May."
NomuraView unch: first hike Aug22 with further hikes in Feb23 and Nov23. " Fully conscious of the risk" and that stronger costs and prices lead MPC "to act far earlier than we foresee."
Morgan StanleyBase case: First 15bp hike Aug22 as UnE rises to 5.1%, weaker wage pressure, withdrawal of Covid support and Apr22 NIC increase. BOE forecasts "consistent with 1H22 hike."
Société GénéraleContinue to see first 15bp hike in Q3-22. "The key [to timing of the first hike] lies in the labour market in which we see only a temporary strengthening of wage growth"
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