Oil Collapse to Worsen China’s Deflation, Open Path for PBOC [Yahoo! Finance News]
PetroChina Company Limited (PTR)
US:NYSE Investor Relations:
petrochina.com.cn/ptr/tzzgx/tzzgx.shtml
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Source: Yahoo! Finance News
) -- The collapse in oil prices is set to worsen China’s factory deflation in the coming months, building pressure on the central bank to loosen monetary policy more decisively.The most recent energy slump is another hit to companies already grappling with higher costs, broken supply chains, canceled orders and unwilling consumers. China’s factory-gate prices, which are a key inflation metric for the world economy, fell 1.5% in March, and could drop as much as 5% this quarter according to Shanghai brokerage Huabao Trust Co.Crude oil is not part of China’s inflation baskets but it affects the prices of goods such as fuel, petrochemicals and packaging as well as transport costs. A previous spike in food prices and above-target consumer price gains has been a factor in the People’s Bank of China’s wariness about large-scale stimulus amid the downturn.“Monetary policy will need to collaborate with fiscal policy to cushion the downward pressure in the economy, and interbank rates may conti
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