Here we go, as I said earlier:
In December 2023 Chinese loan Prime rates were 3.45% for the one-year and 4.20% for the five-year:
- the y/y inflation rate -0.3%
In January 2024 Chinese loan Prime rates were unchanged, still at 3.45% for the one-year and 4.20% for the five-year:
- and the y/y inflation rate was -0.8%
Yep, real rates rose in China in January.
The stock market noticed ...
Happy (Lunar) New year!
ps. China is going on an 8-day holiday beginning tomorrow. Who is going to be bag holding stocks for next week?
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pps. The m/m CPI did rise, so there is a silver lining:
JPM expect the CPI to turn positive y/y sometime in 2024:
