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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Next Year’s Budget Needs To Be Defined By December 17

BRAZIL
  • Speaking to journalists in Brasilia on Thursday, rapporteur Marcelo Castro said that Brazil’s 2023 budget needs to be defined by December 17.
  • Brazil’s social program will need BRL70b more in 2023 and will return to being called Bolsa Familia in president-elect Luiz Inacio Lula da Silva administration.
  • Castro said that there’s no way the amount of 600 reais won’t be paid in January, but there’s no room in the budget to support such demand for spending
    • Castro also said the income tax exemption is more difficult to solve as the exemption for those earning as much as 5,000 reais would excessively affect people who earn just above that amount.
    • A solution to this distortion has to be discussed, he said.
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