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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View Change: MS looks for final 25bp hike in May

BOE
  • "With sequential pressures in inflation this strong, it is hard to see how the tightening cycle can be stopped. Hence, we now expect a 25bp hike from the BoE in May." MS previously expected the hiking March hike to be the final one although noted the bar to further action was "very low."
  • "For now, we refrain from calling for a June hike – as measures of inflation persistence are in line with the BoE's February expectations, and as we think 2Q labour market and growth data might be a touch softer than the BoE expects. Beyond then, the end to the Fed's tightening cycle and more progress in headline inflation falling should keep the BoE on hold through to 2024."
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