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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NBP To Continue To Raise Interest Rates

POLAND
  • NBP Governor Glapinski mentioned during the press conference that yesterday’s 50bps hike was ‘significant’ and the central bank still has room to raise rates if needed.
  • Glapinski commented on NBP tightening cycle saying that the NBP will continue to raise interest rates, but did not specify any timeframe nor magnitude of hikes.
  • Glapinski reiterated that inflation is mainly driven by commodity prices and should continue to remain elevated in 2022 before converging towards target in Q4 2023.
  • Polish inflation is likely to peak in December, with some sell-side firms estimating CPI to accelerate above 8% YoY.
  • With inflation peaking in December and uncertainty rising (due to new restrictions), it is likely that NBP will proceed with gradual 25bps hikes in the coming meetings.
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