MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% 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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CZECHIA: Tomas Holub Says CNB Will Soon Switch To 25bp Cuts

CZECHIA
  • CNB's Tomas Holub told E15 that the central bank will probably soon switch to 25bp from 50bp rate cuts. He noted that "the outlook of having interest rates slightly below 4% at the end of the year, which would imply a 25bp reduction at each meeting, seems realistic." This came after his colleague Jan Frait said that he would decide between a 25bp and 50bp cut at the next meeting, refusing to rule out the latter option, despite admitting that the former would be the "main focus of the debate." The Czech National Bank will announce its next rate decision on August 1, with the blackout period starting today at 14:00BST/15:00CEST.
  • Seznam Zprawy reports that the cabinet decided that Trade and Industry Minister Jozef Sikela will represent Czechia in the European Commission, in line with earlier source pieces. The coalition agreement gave the right to choose the candidate to the now-defunct Pirates and Mayors alliance, but STAN's candidate was chosen over the Pirates' Marcel Kolaja. STAN were also looking to propose Danuse Nerudova as the second candidate, but the government decided to submit just one name.
  • CNB advisors Tomas Adam and Jiri Schwarz wrote in a blog post that "it is necessary to continue a tight monetary policy to ensure that wage growth is absorbed by profit margins, which have increased in recent years for many service providers. Only then will the growth in service prices return to values ​​that will be in line with price stability in the long term."
     
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