MNI China Daily Summary: Friday, February 3

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BBVA Do Not Rule Out Additional Adjustments

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  • The Bank tightened the monetary policy stance understood as the real ex-ante policy rate to a slightly more restrictive level. The policy rate increased by 25 basis points again and now stands at 2.47% in real terms (October: 2.11%).
  • The Bank explained that the higher inflation observed in October is a result of the increase in the international price of food inputs and fuels and maintained their inflation forecasts.
  • BBVA maintain that additional adjustments to the reference rate will be decided on a meeting-by-meeting basis and be highly dependent on the speed of descent of inflation and its expectations. BBVA do not rule out any additional adjustment to the reference rate.
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  • The Bank tightened the monetary policy stance understood as the real ex-ante policy rate to a slightly more restrictive level. The policy rate increased by 25 basis points again and now stands at 2.47% in real terms (October: 2.11%).
  • The Bank explained that the higher inflation observed in October is a result of the increase in the international price of food inputs and fuels and maintained their inflation forecasts.
  • BBVA maintain that additional adjustments to the reference rate will be decided on a meeting-by-meeting basis and be highly dependent on the speed of descent of inflation and its expectations. BBVA do not rule out any additional adjustment to the reference rate.