Consumer price inflation rose more than expected last month, but it continues to be solely a food price problem. Of more concern is that loan growth has not slowed, despite strong signals from the government that it wants credit policy to tighten. The required reserve ratio will probably be raised again before the end of the year, with a second benchmark interest rate hike also increasingly likely.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.