Summary
[CICC Macro: PPI increase is difficult to constitute a reason for currency tightening]CICC Macro issued a document pointed out that the recent local overheating of the property market restricts currency relaxation, but credit risks call for loose currency, and monetary policy this year is still a discretionary choice. Looking ahead, PPI inflation may rise in the short term, but the economic recovery is entering the second half, and imported inflation will hardly become a reason for monetary tightening. The key is to look at the property market and credit risk. In the short term, restricted by the property market, monetary policy may remain neutral and tight. Later, as credit risks are released and the property market cools down, monetary policy may tighten and then loosen, and market interest rates may have downward space. (Securities Times)
CICC Macro issued a document pointed out that the recent local overheating restrictions on the property marketcurrencyRelax butcreditriskCalling Pinecurrency,this yearMonetary PolicyStill a discretionary decision. Look ahead,PPIInflationshort termIt may rise, but the economic recovery is entering the second half, and imported inflation cannot be a reason for monetary tightening.The key is to look at the property market andcredit risk. In the short term, restricted by the property market, the monetary policy may remain neutral and tight. Later, as credit risks are released and the property market cools, the monetary policy may tighten and loosen.marketinterest rateThere is downside.
(Article Source:SecuritiesTimes)
(Editor in charge: DF353)
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