CPI Up 4.5% in January, Deposit Reserve Ratio Cut Expected to be Postponed-Shanghai Metals Market

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CPI Up 4.5% in January, Deposit Reserve Ratio Cut Expected to be Postponed

Data Analysis 05:36:32PM Feb 23, 2012 Source:SMM

According to the China Customs, CPI in January was up 4.5% YoY, with food prices up 10.5% YoY and causing the overall consumer prices to rise by 3.29% YoY. The New Year’s and Chinese New Year holiday allowed CPI to rise apparently.

China’s CPI data was higher than the expected 4.0%-4.1% in January, and also higher than last November and December. The time expected in which the deposit reserve ratio will be cut will be postponed.

China’s central bank commenced the RMB 26 billion of positive repurchasing operation this Tuesday, but maintained the Central Bank bill suspended a signal that Central Bank is still taking a wait-and-see attitude. As CPI rose by 4.5% in January, China’s central bank will likely put off the time to lower deposit reserve ratio.
 

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CPI Up 4.5% in January, Deposit Reserve Ratio Cut Expected to be Postponed

Data Analysis 05:36:32PM Feb 23, 2012 Source:SMM

According to the China Customs, CPI in January was up 4.5% YoY, with food prices up 10.5% YoY and causing the overall consumer prices to rise by 3.29% YoY. The New Year’s and Chinese New Year holiday allowed CPI to rise apparently.

China’s CPI data was higher than the expected 4.0%-4.1% in January, and also higher than last November and December. The time expected in which the deposit reserve ratio will be cut will be postponed.

China’s central bank commenced the RMB 26 billion of positive repurchasing operation this Tuesday, but maintained the Central Bank bill suspended a signal that Central Bank is still taking a wait-and-see attitude. As CPI rose by 4.5% in January, China’s central bank will likely put off the time to lower deposit reserve ratio.