Summary
[Minsheng Bank Wen Bin: CPI and PPI continue to deviate from the macro policy and need to be further strengthened]China Minsheng Bank’s chief researcher Wen Bin and researcher Feng Bai commented on the September inflation data, saying that as PPI hits a new high, CPI continues to fall. The scissors gap between PPI and CPI reached 10 percentage points, an increase of 1.3 percentage points from the previous month, and the scissors gap hit a record high. The continued fall in food prices is the main reason for the poor price transmission. On the whole, the current impact of inflation on monetary policy is limited, but with the increase in imbalances and imbalances in the internal and external economic recovery, the risks will increase accordingly. Macroeconomic policies should be well adjusted across cycles, strengthen the coordination of policies in different departments, ease the tight supply of coal and electricity, and further help market players such as small and medium-sized enterprises cope with the impact of rising raw material prices, and increase their contribution to boosting effective demand and stabilizing economic growth. We are prepared to deal with various risks. (Securities Times)
ChinaMinsheng BankLead researcher Wen Bin and researcher Feng Bai commented on September inflation data, saying thatPPIHit a new high,CPIHowever, under the trend of continued decline, the scissors gap between PPI and CPI reached 10 percentage points, an increase of 1.3 percentage points from the previous month, and the scissors gap reached a record high. The continued fall in food prices is the main reason for the poor price transmission.Overall, the current inflationcurrencyThe impact of the policy is limited, but as the internal and external economic recovery becomes unbalanced and unbalanced factors increase, the risks will increase accordingly. Macroeconomic policies should be well adjusted across cycles, strengthen the coordination of policies in different departments, ease the tight supply of coal and electricity, and further help market players such as small and medium-sized enterprises cope with the impact of rising raw material prices, and increase their contribution to boosting effective demand and stabilizing economic growth. We are prepared to deal with various risks.
(Source: Securities Times)
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