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

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% 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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MNI BRIEF: RBA Sees NAIRU As Difficult Metric - Bullock

SYDNEY

The Reserve Bank of Australia does not target a specific level of joblessness and believes wide bands around measures of the non-accelerating level of unemployment make it a difficult metric to use when determining monetary policy, according to RBA Governor Michele Bullock.

At a Q&A session in Sydney, Bullock was reluctant to discuss NAIRU forecasts, noting the Reserve aimed to keep inflation within its 2-3% target band while maintaining employment growth. She added the Reserve aimed to keep an “open mind” on what “the level of NAIRU might be.”

Bullock in June noted an unemployment rate of 4.5% by mid-2025, while lower than pre-pandemic levels, would be “not far off some estimates of where the NAIRU might currently be.” (See MNI INTERVIEW:Neutral Update Needed After Fourth Pause- Ex RBARBA)

Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.
Central Bank NewsPolicy NewsHomepageAPACAustraliaBriefStoryRBARegion
Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.
Central Bank NewsPolicy NewsHomepageAPACAustraliaBriefStoryRBARegion

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