Chinese inflation data for October was published overnight and came in roughly as expected with PPI printing 3.3% y/y, down from 3.6% y/y in September.
Key Quotes
“CPI was 2.5% y/y, unchanged from the previous month. Hence, inflationary pressures remain muted in the Chinese economy and do not constrain the People’s Bank of China from keeping an easy stance on monetary policy.”
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