Issuer:HSBC Group

48 Pages

Language:English

Global inflation continues to rise, giving central banks increasing concern over second-round effects. Meanwhile, growth is slipping, creating conflicting pressures on policymakers. For China, there is growing evidence that the urgency has gone out of the tightening process. The rate of CNY spot appreciation has already slowed quite sharply. In addition, the constraints on foreign exchange policy remain large.