MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

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MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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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Key Data Awaited Ahead Of NBP Rate Decision Next Week

POLAND
  • Poland's flash August CPI data and final Q2 GDP will steal the limelight today, both due for release at 09:00BST/10:00CEST. Market participants will scan the data for a confirmation that the NBP could cut interest rates as soon as next month. Crucially, a slowdown in headline CPI below +10% Y/Y would likely prompt the market to add dovish NBP wagers, as a single-digit inflation was mentioned by Governor Adam Glapinski as he outlined the conditions for lowering interest rates. In a Bloomberg poll of economists, the median estimate for CPI inflation is exactly +10% Y/Y.
  • State development fund PFR head Pawel Borys told PAP that the 2024 budget draft was prepared in a conservative way and the deficit could be lower than 4% of GDP (the spending plan assumes a fiscal gap of 4.5% of GDP). He noted that the plan involves the consolidation of public finances and the incorporation of off-budget funds into the central budget. Borys said that "certain fiscal stimulation" as well as interest-rate cuts would be justified amid economic slowdown.
  • The ruling Law and Justice (PiS) party are pressing ahead with the plan to establish a controversial panel to investigate Russian political influence in the country. Parliament yesterday approved nominations for all nine members of the committee. All were proposed by the ruling party, as others boycotted the procedure.
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