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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Copom Minutes Expected At 1200BST/0700ET, Mid-Month Inflation

BRAZIL
  • Brazil’s central bank are scheduled to publish the minutes of last week’s Copom meeting, where the committee unanimously decided to cut the Selic rate by 50bps to 12.75%.
  • In a note, Goldman Sachs have said they will be looking out for three particular points within the minutes. First of all, views on the output gap and labour market dynamics and their potential impact on the easing cycle. Secondly, discussion surrounding the additional paragraph on fiscal targets and whether it could have been added as an upside inflation risk, and thirdly, an eventual discussion about the potential impact of the increase in US long rates on the near-term calibration of the easing cycle.
  • Mid-September inflation data will also cross today where the annual headline rate is expected to increase to 5.02%, from 4.61% in the full August reading, largely driven by rising fuel prices.
  • It is also worth noting that on Thursday, the central bank will also publish the third quarter inflation report.
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