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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HUNGARY: Rate Cuts Expected to Resume in Sept Following July Hold

HUNGARY
  • Local news flow is light today, with market focus on the implications of yesterday’s central bank rate decision. There, the NBH kept its base rate unchanged at 6.75%, a decision in-line with the consensus view among analysts (though a minority had flagged risk of another 25bp rate cut).
  • The policy statement acknowledged that rate cuts will be possible in the coming period, while the Deputy Governor was more specific, saying he still sees scope for 1 or 2 rate cuts before year-end. This is consistent with pre-decision speculation that the hold would be a pause, with easing likely to resume next month followed by one more rate cut, potentially in December, when updated inflation forecasts will be provided.
  • There are no data releases scheduled for today, with PPI figures for July crossing tomorrow morning. Our review for yesterday’s MPC meeting, with a summary of sell-side analyst views, will be released later today.
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