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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SEB See First Riksbank Cut In May vs June Prior

RIKSBANK

SEB have updated their call for the first Riksbank rate cut, now expecting easing to begin at the May meeting versus June prior. This comes alongside the latest Nordic Outlook forecast update.

  • "We believe that the Riksbank wants to avoid renewed krona depreciation and that they are happy to let the ECB cut its key rate first, at least as long as the krona does not appreciate much further".
  • "Economic growth and the labour market are weaker in Sweden, where high rate sensitivity makes the price of postponing rate cuts high".
  • "We expect the first rate cut to be in May, but January’s hard-to-assess inflation figures are creating uncertainty".
  • "We expect the policy rate to be cut by a total of 100 basis points this year and by a further 75 bps, to 2.25 per cent, in 2025".
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