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

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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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Econ Adviser-'Wouldn't Say Inf. Has Peaked, But Trend Positive'

WHITE HOUSE

Wires carrying comments from Jared Bernstein, a member of the White House's Council of Economic Advisers. Bernstein states that, "I wouldn't say that inflation has peaked, but the trend is positive".

  • Says that he believes the US economy 'can avoid a recession'.
  • Work to combat inflation remains a key objective for the Biden administration according to the White House. Press office reported that at the G20 summit in Bali, Indonesia, President Biden discussed “the importance of securing sustainable & affordable energy supplies” when in conversation with new UK PM Rishi Sunak.
  • Opinion polling shows a notable improvement in respondent's views on Biden's handling of the inflation issue. Although the overall approval ratings on inflation are still negative, they have improved markedly in recent weeks and months as gas prices have fallen.
  • In June, the average net approval for how the administration is dealing with inflation stood at -45. By October, this had improved to an average of -25.4.
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