Consumer price inflation should have fallen slightly in July. Although we expect a gradual pick-up in the months ahead, overall inflation is likely to remain low, allowing policymakers’ focus to stay...

The renminbi’s rise against the dollar stalled at the beginning of 2012 and the currency has fallen back in the last few weeks. The scale of depreciation to date is small – little more than 1% since...

The recent surge in global agricultural commodity prices – if sustained – will add to the downside risks to China’s economy but it is unlikely to be a decisive factor. Overall inflationary pressures...

Today’s strong lending data cast last week’s rate cut in a new light. Policy is being eased further even though earlier stimulus measures had already started to take effect. That suggests the...