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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Ramaphosa Sworn In, Begins Cabinet Consultations

SOUTH AFRICA
  • President Cyril Ramaphosa was sworn in for another five-year term in office and now faces the task of cobbling together a national cabinet. There is no formal deadline for the completion of the process, but the announcement of the new cabinet line-up would help reassure investors wary of post-election instability. The multi-party nature of the ruling coalition may obstruct negotiations, as Ramaphosa will need to weigh the demands of a number of stakeholders and propose a mutually acceptable compromise in the division of cabinet positions.
  • BusinessDay reported that the African National Congress (ANC) insists on the need to ensure continuity in the economic cluster and is likely to recommend that Enoch Godongwana remains Finance Minister.
  • Elsewhere, tensions between the ANC and its rivals-turned-allies from the DA have resurfaced as the latter party demanded a say in who can join the government of national unity (GNU), which ANC representatives refused to agree to.
  • South African CPI data printed in line with expectations, with headline inflation staying at +5.2% Y/Y in May. Still, key breakeven rates have been in sharp decline in recent weeks, reflecting expectations of a quicker return to the target.
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