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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RBC: Q1 GDP Reaffirms BoC Rate Hike Call

CANADA
  • Real GDP increased +3.1% annualized in Q1 as robust household consumption (+3.4% despite a soft start to the quarter with Omicron restrictions) and business investment offset a sizeable decline in net trade.
  • Near-term growth momentum remains firm as household services consumption rebounds, but elsewhere production capacity constraints are limiting the amount that output can increase.
  • Rising costs, worsening supply chain conditions and acute labour shortages were all once again reported as key obstacles for future growth by businesses in the Q2 Survey on Businesses Conditions, and many of these cannot be addressed in the short run.
  • RBC continue to look for another 50bp hike tomorrow with follow-up hikes until 2.5% later this year.
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