MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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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Banxico’s Heath Says Rate Adjustment Could Come By February/March

MEXICO
  • Banxico Deputy Governor Jonathan Heath has said that if inflation continues to drop, especially core inflation, an 'adjustment' to interest rate could come by February or March. In a radio interview, Heath highlighted that any early interest rate cuts should be seen as "slight adjustments," not the start of a rate-lowering cycle.
    • Heath says “one, two cuts could come, but very gradually and with great caution”.
    • However, Heath reiterates that core prices have to come down more for inflation to continue dropping and that there is a set of large (upside) risks to inflation.
    • “If many of these risks materialize, it will be difficult for inflation to converge toward target of 3% by end-2024 and early 2025”.
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