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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Setback for Finance Ministry as Haddad Abandons Plan to End Payroll Tax Relief

BRAZIL
  • Setback for Finance Minister as He Abandons Plan to End Payroll Tax Relief (Bloomberg)
  • Comments from Senate leader Rodrigo Pacheco on Friday suggest Finance Minister Fernando Haddad has agreed to abandon his efforts to end a payroll tax exemption as part of ongoing fiscal negotiations with Congress.
    • “There is a commitment from the federal government to reissue the provisional measure to revoke the part that concerns the payroll tax exemption,” Pacheco said. “This is the political commitment we made, and this is how it will happen.”
    • For reference, the finance ministry’s team has cast the gradual phase out of costly payroll tax relief as essential to its efforts to hit its zero-deficit target for 2024. (BBG)
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