Consumer prices rose 0.6% over the previous month in July, contrasting June’s 0.1 % decrease.
The manufacturing Purchasing Managers’ Index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) rose from 50.9% in June to 51.1% in July.
Download a sample report now.Never miss out on our latest data, analysis and industry events. Inflation increases in July due to higher food prices
To achieve this, more liquidity will be injected by the PBOC via both broad-based and targeted methods, such as reductions in the required reserve ratio and offering liquidity via targeted MLFs.”In a separate statement published late Friday, the People’s Bank of China called for better coordination of global macro policies, while re-emphasizing it will keep liquidity sufficient to help with the real economy and watch out for inflation risks.The cut Monday signals the PBOC has entered “a stage with stronger counter-cyclical adjustment,” out of consideration of both domestic demand and the global virus outbreak, Ma Jun, a PBOC adviser, said in a Economists have lowered their median forecast for economic growth to 2.9% for 2020, the slowest pace since 1976, when the Cultural Revolution wrecked the economy and society.
Industrial output grew 4.8% year-on-year in June (May: +4.4% yoy). Bank of China has announced that from 1 August 2020, interest rates on the BOC SmartSaver will be cut significantly, joining DBS, OCBC, UOB and pretty much every other bank in nerfing its flagship savings account. The People’s Bank of China reduced the interest rate on 7-day reverse repurchase agreements to 2.2% from 2.4% when it injected 50 billion yuan …
Other than the interest rate, consumers should also read up on the real user reviews of BOC SmartSaver to find out more about … China’s central bank warned that the prolonged presence of ultra-low interest rates in some economies is storing up financial stability risks and causing spill-over effects for other countries.
Reductions to policy rates should also be reflected in the main market benchmark of the cost of lending to companies, the loan prime rate.“Lowering banks’ lending rates without a reduction in the cost of their liabilities will squeeze banks’ net interest margin, eroding their profitability and capital base,” said Ding Shuang, chief Greater China and North Asia economist at Standard Chartered Bank Ltd. “A benchmark deposit rate cut is necessary.”China will increase its fiscal deficit as a share of gross domestic product, issue special sovereign debt and allow local governments to sell more infrastructure bonds as part of a package to stabilize the economy, according to a Politburo meeting on Wednesday, Xinhua reported late Friday.“We expect the authorities to urge banks to expand lending, particularly to smaller and private companies.
A flat rate of 20% is applied on the remaining categories of income, including incidental income, rental income, interest income, dividends, and capital gains, unless specifically reduced by the State Council. BOC …
China 3.85 Aug/20 ... Interest Rate Lending Rate Loan Growth Loans to Private Sector Money Supply M2.
The central bank on Friday announced another cut to the amount of cash lenders must hold as reserves in a move to release a net 800 billion yuan ($117 billion) of liquidity and offset a funding squeeze ahead of the Chinese New Year.Updates with Bloomberg Economics, details of actions of other nations. According to the PBOC, the average interest rate of new loans issued in December was 5.74 percent, the lowest level since the second quarter in …
The increase reflected much higher prices for the food, tobacco and alcohol category.Looking for forecasts related to Inflation in China? Markets Commodity Currency Government Bond 10y Stock Market. While there is a reduction from the 1.85% per annum interest rate before 1 August 2020, the BOC SmartSaver still fetch a relatively high interest rate when compared to the some of the savings accounts available in the market right now. Inflation rose from June’s 2.5% to 2.7% in July.
Until the past few days, China’s policy makers had maintained a relatively cautious program of easing, mindful of the nation’s heavy debt load and of risks to financial stability.While the Politburo statement and the PBOC move signal the response is moving up a gear, it still falls short of a no-holds-barred stimulus.“Certainly, the policy easing is continuous and today’s liquidity injection at least suggests that the policy aid will be mildly constant and will be more proactive when the authorities deem necessary,” said Zhou Hao, an economist at Commerzbank AG. House prices in 70 large- and medium-sized cities increased 0.6% in June in month-on-month terms according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS).