The United States and China, the world's largest economies, are on divergent monetary policy paths that are spelling some headaches.
has basically stalled
. Producer prices in June fell 5.4% year-on-year, the ninth consecutive drop and sharpest decline since December 2015. Consumer prices were unchanged compared with a year ago. Both figures were worse than predicted — economists had expected PPI to drop 5% and CPI to increase 0.2%.Beijing has so far cut rates in June and pledged "targeted and coordinated policy, which would be implemented in a timely manner.
On the other side of the Atlantic, market watchers are intently watching U.S. inflation data due later this week. Will these offer more signs that the Fed will hike rates? , its lowest annual rate in more than two years, but core inflation rose by 0.4% month-on-month and 5.3% year-on-year." in their battle against inflation, as several factors keep core prices persistently high, according to top Societe Generale economist Kokou Agbo-Bloua.and the apparent resilience of the economy means the market is pricing around a more than 90% chance that the Fed will hike rates to a range of between 5.25% and 5.
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