China March 2025 inflation data
China CPI (YoY) (March 2025) -0.1%
- expected +0.1%, prior -0.7%
CPI (MoM) -0.4%
- expected -0.2%, prior -0.2%
PPI (YoY) -2.5%
- expected -2.3%, prior -2.2%
Meanwhile, the onshore yuan, CNY, has fallen to its weakest since late December 2007. Its around 7.3518 in market trading.
The PBOC CNY reference rate setting for it today was 7.2092.
AS I point out every day, there is a +/-2% trading band that the PBOC allow for onshore yuan (there is no such restriciton for the offshore, CNH) so that makes the bounds today:
- 7.353384
- .... umm, the downside bound doesn't matter.
USD/CNH is much higher:
