MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% 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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Powell Asked On Soft/Hard Landing

FED
  • Q: If you don't want to use the term soft landing, would you say that the risk of a hard landing caused by the Fed has diminished? And some Wall Street analysts think if you maintain the level of restriction you have right now, you could end up with inflation running below target. How do you see that?
    • A: Where we are: executive summary would be, growth is solid to strong, and we have seen inflation come down. Let's be honest, this is a good economy. But the outlook: we expect growth to moderate, job growth has slowed, and inflation is above target and getting down closer to target - it's not guaranteed, but we seem to be on track.
    • We are not looking for inflation to tap the 2% base once. We are looking for it to settle out over time, at 2%. We are not looking to have inflation anchor below 2%. We are looking to have it anchored at 2%. So, if we do face those circumstances, then we will have to deal with it. For now, we want to take advantage of this situation and finish the job on inflation while keeping the labor market strong.
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