Chinese Inflation Rate MoM (Jan) M/M 0.2% vs. Exp. 0.3% (Prev. 0.2%, Low. 0.1%, High. 0.5%)
The January inflation reading from China showed a month-on-month increase of 0.2%, slightly below the expected 0.3%.
RBA Deputy Governor Hauser says Australia's economy is not just 'dig it and ship it', many parts of the economy are doing quite well, adds inflation is too high which they can't let persist and will do what is needed to return it to the band
UK expands settlement visa for Hong Kongers following Jimmy Lai's sentence
Chinese Inflation Rate MoM (Jan) M/M 0.2% vs. Exp. 0.3% (Prev. 0.2%, Low. 0.1%, High. 0.5%)
PBoC injects CNY 78.5bln via 7-day reverse repos with the rate at 1.40% and injects CNY 400bln via 14-day reverse repos with the rate at 1.65%
PRE-MARKET CHINESE STOCKS NEWS: SMIC (981 HK) prelim Q4 (USD) net rose 60.7% Y/Y to 172.8mln (exp. 170.3mln), rev. rose 12.8% Y/Y to 2.49bln
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This miss may indicate weaker price pressures than anticipated, which could impact the outlook for monetary policy as the PBOC might see less urgency to tighten. Markets will likely reassess growth and inflation dynamics in Asia, particularly in relation to currency and commodity plays.
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