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 Press Conference Beginning Shortly (13:00GMT)

SOUTH AFRICA
  • The SARB's decision will be announced during a press conference starting at 13:00GMT/15:00SAST.
  • The Bank are widely expected to stand pat on rates, albeit a turning point is on the horizon. Headline inflation cooled further in December after a temporary spike into 4Q2023, while core inflation sits close to the mid-point of the +3.0%-6.0% Y/Y target range.
  • Still, recent communications suggest that the SARB does not consider its job done and wants to ensure that inflation is anchored firmly around the target mid-point. The absence of dovish-leaning Deputy Governor Kuben Naidoo, who left the central bank at the turn of the year, may delay the pivot to monetary easing.
  • See our full preview of the decision, with a summary of sell-side analyst views, here.
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