MNI China Daily Summary: Thursday, Dec 5

MNI: UK NOVEMBER CONSTRUCTION PMI 55.2 (FCST: 53.5); OCT 54.3

MNI: EUROZONE NOVEMBER CONSTRUCTION PMI 42.7 OCT 43.0

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1879 Thurs; -1.82% Y/Y

MNI: EUROZONE OCT RETAIL SALES -0.5% M/M, +1.9% Y/Y

MNI: FRANCE OCT INDUSTRIAL PRODUCTION -0.1% M/M, -0.6% Y/Y

MNI: GERMANY OCT FACTORY ORDERS -1.5% M/M

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 Says Makes Sense To Move At More Moderate Pace Now

FED
  • Q: When you're considering hiking again, are there things you would expect to kick in as lagged effects come into effect that would inform your decisions?
    • A: It's a challenging thing in economics. By the time we'd lifted off, the 2Y yield had gone from 20 to 200 basis point - tightening happens much sooner than it used to when news was in newspapers. But it's still the case that interest rate sensitive spending is affective quickly: housing, durable goods. But broader demand, spending, asset values take longer.
    • It's one of the main reasons why it makes sense to go at a slightly more moderate pace now. When we see inflation really flattening out and starting to soften, I think we'll know that it's working. It's too early to assess the full extent of what bank credit tightening might mean. We would factor that into our decisions.
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