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

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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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BCCh Expected To Slow Easing Pace Next Week

CHILE
  • No domestic macro data are due today, with attention turning to the BCCh monetary policy meeting next week. Analysts expect the BCCh to slow the pace of easing on Tuesday, cutting the policy rate by 25bp to 5.75%. While both 25bp and 50bp options may be on the table, the BCCh is likely to side with consensus expectations, as they did in May. The aggressive easing cycle to this point and a recent hawkish shift for both LatAm and global central banks further bolster the likelihood of a 25bp cut. A full MNI preview of the meeting will be published on Monday.
  • Meanwhile, despite ongoing delays on the pension and tax reforms, other reforms have made some progress. Itaú report that Congress finally approved a bill from December 2021 that creates a consolidated record of debtors in the economy, while the Senate’s Finance Committee also approved a bill that modifies the fiscal responsibility law to complement the structural balance rule with a prudent limit on public debt. The latter bill will now move to the Senate floor for a vote.
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