SHANGHAI, Oct. 15 (SMM) – The readings of China’s CPI and PPI both missed market forecasts, and were below earlier month’s results. Will Chinese government introduce fresh measures in response to these results?
“Slim chance exists for Chinese government to cut interest rate, as this will disrupt the government’s move in its economic reform”, an analyst from CIFCO futures told SMM in a recent interview, adding open market operations are preferred.
Another analyst from Guosen Futures said recent positive news will give hope to the market towards monetary-policy easing, and whether or not the news will follow up with concrete actions should be closely watched.
“The relaxation of lending rules for home buyers in most Chinese cities should give some boost to copper market, but overall impact will be small due to a strong dollar and growing supply”, one analyst from COFCO Futures said.
China's consumer-price index slowed to 1.6% in September, the lowest since January 2010 and China's producer-price index dropped 1.8% in September year-on-year, compared with a 1.2 per cent decline in August.
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