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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Copom Meeting In Focus – Final Rate Hike In Question

BRAZIL
  • As of writing, 23/28 surveyed analysts expect the Copom to keep rates unchanged at 13.75%. However, the remaining five see the Copom hiking 25 basis points to 14.00%.
  • While the consensus appears to be leaning towards an unchanged decision given the most recent declines in headline inflation, comments from BCB officials have kept the door open for another, likely cycle ending, hike on Wednesday.
  • Analysts have noted that despite moderating headline inflation data and expectations, core inflation in August accelerated alongside above-expectation growth data which may argue in favour of increasing the Selic rate into even further restrictive territory.
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