China’s rising inflation could prompt RRR cut
CPI inflation in China has popped to 2% year-on-year due to a surge in food prices. This should limit the opportunity of interest rate cuts to boost the country’s slowing economy, leaving the reserve requirement ratio (RRR) a prime monetary tool.
What: China’s CPI inflation rebounded to 2% year-on-year in August, up 0.2% from July’s 1.8%. The move was roughly in line with market expectations, with food (3.4%) and rental costs (2.2%) driving the momentum.
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