Upbeat China CPI calling for PBOC rate hike?
|Bloomberg providing further insights on the Chinese inflation data, after the NBS reported China CPI figures for Nov at 2.3% y/y versus 2.2% expected.
Key Points:
Prices boosted by rallying commodities and stronger demand would ripple through supply chain across Asia
Uncertainties remain
Meanwhile, Raymond Yeung, chief greater China economist at Australia & New Zealand Banking Group Ltd. in Hong Kong, noted "China has entered a new inflationary cycle. The next move of the PBOC should be an interest rate hike, not a cut."
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