Fresh out of the oven, Chinese CPI for April came in at 5.3%, which is above rumours and estimates ranging from 5.1% to 5.2%.
It’s down 0.1% from last month, but the bottom line is that reserve ratio hikes out the wazoo haven’t done much to slow inflation down, which actually just means we’ll probably see more.
Markets have yet to react meaningfully to the news.
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