请务必阅读正文之后的免责条款部分 1 of 23
China: A Substantial Relaxation of Monetary Policy is Unlikely
PMI purchasing price index dropped to 52.
9% in April 2011, down 0.
5 ppt from
March.
The decline in New Orders index and New Export Orders index
suggested...
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请务必阅读正文之后的免责条款部分 1 of 23
China: A Substantial Relaxation of Monetary Policy is Unlikely
PMI purchasing price index dropped to 52.
9% in April 2011, down 0.
5 ppt from
March.
The decline in New Orders index and New Export Orders index
suggested greater short-term downside risks.
Impacted by the further monetary
tightening policy, economic adjustments caused by the inventory behavior which
was reinforced by inflation expectations may have begun.
After the interest rate
hike on 6th
April, another interest rate hike is unlikely within 2011 according to
our estimates that inflation will peak in 2Q2011 and then gradually decline.
However, there is still room to make use of quantitative tools such as deposit
reserve ratio which has no upper limit.
United States: Fed Won’t Tighten Any Time Soon
The FOMC statement indicated that US housing market was still weak and
inflationary pressures would be temporary.
The Fed lowered the future economic
growth estimates but ra
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