PBOC: Inflation rise is temporary

Commenting on the rising price pressures in the country, the People’s Bank of China (PBOC) said that the higher Producer Price Index (PPI) is most likely temporary, in its second-quarter monetary policy report. 

Additional takeaways

“The domestic recovery is not yet solid.”

“Inflation pressure is controllable because the central bank began normalizing money supply since May 2020, ahead of major economies.”

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