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 MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

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 RBNZ Preview - May 2023: Tightening Still Needed, Pace Can Slow

RBNZ
  • Increased fiscal stimulus, soaring immigration and inflationary impact of rebuilding make the outcome of the May 24 RBNZ meeting a close call between a 25bp and 50bp hike. We think that the RBNZ can afford to step down to +25bp as inflation and inflation expectations are moving in the right direction and policy is now restrictive. But with inflation elevated and demand robust, the RBNZ is still likely to tighten further and keep its tightening bias.
  • With at least some tightening expected, the focus is going to be on the guidance and the updated forecasts.
  • Recent developments add to capacity and price pressures, so more monetary tightening is likely to be needed.
  • See preview here.
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