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

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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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SARB Announces Rate Decision, StatsSA Reports December PPI

SOUTH AFRICA
  • Governor Lesetja Kganyago will announce the latest rate decision of the South African Reserve Bank (SARB) during a press conference starting at 13:00GMT/15:00SAST. The Committee is widely expected to keep interest rates unchanged, while the next move will likely be a cut. See our preview for more details.
  • South Africa's December PPI will be published at 09:30GMT/11:30 SAST. Factory-gate inflation is expected to have eased to +4.3% Y/Y from +4.6% prior. Data from Statistics SA yesterday showed that CPI inflation slowed to +5.1% Y/Y in December from +5.5% prior, printing a touch below the consensus forecast of +5.2%.
  • Ninety One, South Africa's largest asset manager, said that the communication around the departure of SARB Deputy Governor Kuben Naidoo caused jitters, but the central bank's "decision making will be unchanged" and they "do not think monetary policy is going to skip a beat".
  • The International Court of Justice (ICJ) will rule on South Africa's genocide case against Israel on Friday at noon GMT. Pretoria is seeking an emergency order for Israel to halt its military actions in Gaza.
  • Eskom announced that loadshedding will be suspended daily between 10:00 and 16:00. The utility will continue to alternate between Stage 1 and Stage 2 power cuts outside of these hours.
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