China CPI Data Encouraging, Paves Way for Loosening, Ulrich Says
Chinese economic data showing inflation easing in September from the previous month was “encouraging,” and gives the government leeway to ease monetary policies, according to JPMorgan Chase & Co.
The government will introduce more policies to boost economic growth as exports slump, Jing Ulrich, Hong Kong-based chairman of global markets for China at JPMorgan, said in a Bloomberg Television interview. The yuan will appreciate a further 2 percent against the U.S. dollar this year and 5 percent next year, she said. Ulrich favors industries such as consumer, telecom, Internet and travel. She said bank and property stocks face continued “downward pressure.”
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