ING
Moderate Chinese inflation won't stand in the way of a rate cut
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https://think.ing.com/snaps/moderate-inflation-wont-stand-in-the-way-of-a-rate-cut-in-china/
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4 itemsING THINK
Moderate Chinese inflation won’t stand in the way of a rate cut
The desk anticipates that the moderate inflation trajectory in China will not impede a potential rate cut by the PBoC, as supported by June's CPI easing to 1.0% year-on-year. This data reflects a continued trend of subdued domestic inflation despite rising PPI pressures, suggesting the central bank maintains room for monetary easing. Per the full note from ING, non-food inflation has significantly contributed to the slowdown, with transportation costs dropping notably. Such economic indicators point to a potential shift towards stimulus as the PBoC seeks to invigorate growth amidst persistent deflationary pressures in food prices.
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China’s reflation trend continues to solidify
DESK NOTE