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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Macklem: Policy Needs To Be Somewhat Restrictive But Signs Of Labour Slack

CANADA
  • Q: How restrictive is policy right now?
  • Macklem: Our assessment is that mon pol is still restrictive. Inflation is still 2.7% and core is about the same. We still need to get inflation down and so it needs to be somewhat restrictive. We’ve made a lot of progress and we’re confident that the ingredients are in place.
  • Macklem on the labour market: Younger workers and new non-permanent residents are taking longer to find their first job – their unemployment rates have moved proportionally more than other parts including prime age workers. That’s telling us that there is slack in the labour market and we think there is enough slack in the labour market and economy overall. Going forward, our own forecast has GDP going up and we’d expect jobs growth to follow, perhaps with a bit of a lag
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