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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Turkey, Syria, Russia Defense Ministers to Meet in Moscow

TURKEY
  • Despite the banking sector’s attempt to steer clear of foreign currency deposits, recent central bank data revealed that banks are offering a 5.57% interest rate on dollar-denominated deposits with a maturity of one year or longer, Hurriyet report.
  • The government has extended corporate tax exemptions on FX gains and interest income for companies that convert their FX holdings from their Q1 balance sheets to TRY through FX-protected deposits, according to a decree published in the Official Gazette.
  • Due to the surge in commodity prices and the depreciation of the TRY, Unilever’s World President announced that significant price increases will be necessary in Turkey.
  • Defense ministers and intelligence chiefs of Turkey, Syria, Russia and Iran are expected to meet in Moscow today while President Erdogan will speak at 3 separate events from 0900BST/1100 local time onward. CHP leader and presidential candidate Kemal Kilicdaroglu will address supporters in this afternoon. There are no major economic releases scheduled today.
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