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13 Apr 2015
Contained CPI inflation leaves more room for easing in China – Nomura
FXStreet (Barcelona) - Asian Economists at Nomura, share the inflation outlook for China and further forecast three more 25bp interest rate cuts for 2015.
Key Quotes
“CPI inflation was unchanged at 1.4% y-o-y in March from February, largely in line with market expectations (Consensus: 1.3%; Nomura: 1.9%)."
“PPI deflation eased to 4.6% y-o-y in March from 4.8% y-o-y in February, better than expected (Consensus: 4.8%; Nomura: 5.0%).”
“We remain comfortable with our 2015 CPI inflation forecast of 1.5%.”
“We maintain our call for three more 25bp benchmark interest rate cuts and three more 50bp reserve requirement ratio (RRR) cuts through the rest of the year.”
Key Quotes
“CPI inflation was unchanged at 1.4% y-o-y in March from February, largely in line with market expectations (Consensus: 1.3%; Nomura: 1.9%)."
“PPI deflation eased to 4.6% y-o-y in March from 4.8% y-o-y in February, better than expected (Consensus: 4.8%; Nomura: 5.0%).”
“We remain comfortable with our 2015 CPI inflation forecast of 1.5%.”
“We maintain our call for three more 25bp benchmark interest rate cuts and three more 50bp reserve requirement ratio (RRR) cuts through the rest of the year.”