“Beijing is very unlikely to attain its CPI target of 3 per cent for 2024, and the final figure may hover around 1 per cent,” said Larry Hu, chief China economist at Macquarie Capital.
China has yet to step into deflation – deflation suggests an overall downward economic spiralLarry Hu, Macquarie Capital.The low CPI reading underscores Beijing’s need to speed up interest rate cuts, Hu added, pointing out that doing so could help alleviate the mortgage burden on residents and help allocate more funds towards consumption. Read More...
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