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UGG ブーツ アウトレット 基本上以逆回购的形式

. November, China's consumer price index (CPI) annual rate rebounded to 2%. Leaving aside CPI in January next year there will be a decline due to seasonal factors leading late arrival of the Lunar New Year, the Chinese inflation should have bottomed out. Agricultural prices, coupled with the base effect, so picked up in CPI. Pork prices, inflation is the biggest factor in the rebound. Pork rights in China in the heavy high inflation index,UGG ブーツ アウトレット, the ups and downs of the price index has the power to dominate. Some even joked that China's overseas CPI as "ChinaPorkIndex". Corn prices have continued to rise since the second half of last year, soaring feed costs, a substantial deterioration "hog-corn ratio" (the price of pork and corn price ratio). Since March this year, a large number of pig farmers slaughtered pigs, and even pigs, pigs. Hog production cycle is generally 12-16 months, which means the beginning of the second quarter of next year, will be significantly decreased the supply of pork, meat prices rising. Pork prices, will pull the prices of other meats and proteins. Other agricultural prices, is driving the price of the second factor. Other global agricultural agricultural prices rise, the price is pulling the second factor. Global agricultural prices by the El Niño rose sharply, China relatively milder weather this year, the grain harvest. However, the cost of production of agricultural products was affected by labor costs,UGG ブーツ 正規品, land costs and effects of chemical fertilizer and pesticide prices, I believe that is going through a structural rise in agricultural prices. I predict,UGG ブーツ 店舗, CPI will exceed 3 percent in the second quarter of next year, the annual price levels between 3-3.3%. Resurgence of inflation, interest rate cuts will close the window. Since the People's Bank of China this year,アグ モカシン, basically in the form of reverse repurchase liquidity fine-tuning. Flexibility of this approach, the continuity is better, do not touch that hot money flowing into the housing market as interest rate cuts. But the greater impact on short-term reverse repurchase funds, interest rates on long-term capital regulation less than ideal, which is reflected clearly in the yield curve. Perhaps the new government has the interest of policy instruments need to restart,UGG ブーツ アウトレット, but cuts the window is closing. El Niño affected by the price rise, China is relatively milder weather this year, the grain harvest. However, the cost of production of agricultural products was affected by labor costs, land costs and effects of chemical fertilizer and pesticide prices, I believe that is going through a structural rise in agricultural prices. I predict, CPI will exceed 3 percent in the second quarter of next year, the annual price levels between 3-3.3%. Resurgence of inflation, interest rate cuts will close the window. Since the People's Bank of China this year, basically in the form of reverse repurchase liquidity fine-tuning. Flexibility of this approach, the continuity is better, do not touch that hot money flowing into the housing market as interest rate cuts. But the greater impact on short-term reverse repurchase funds, interest rates on long-term capital regulation less than ideal, which is reflected in the yield curve clearly
。十一月份,中国的消费者物价指数(CPI)年增率反弹至2%。撇开因农历新年较迟到来而使明年一月CPI会有一个季节性因素主导的下挫外,中国的通货膨胀应该已经见底。农产品价格上升,加上基数效应,令CPI重拾升轨。猪肉价格,是通胀反弹的最大因素。猪肉在中国通货膨胀指数中的权重极高,对物价指数具有主宰沈浮的力量。海外甚至有人戏称中国的CPI为“ChinaPorkIndex”。玉米价格从去年下半年起持续上升,饲料成本飙涨,“猪粮比”(猪肉价格与玉米价格之比)大幅恶化。今年三月起,猪农大量屠杀生猪,甚至猪仔、种猪。生猪生产周期一般为12-16个月,这意味着明年第二季度开始,猪肉供应会明显下降,肉价趋升。猪肉涨价,还会拉动其他肉类和蛋白质的价格。其他农产品价格上扬,是拉动物价的第二个因素。全球农产品其他农产品价格上扬,UGG ブーツ 正規品,是拉动物价的第二个因素。全球农产品价格受厄尔尼诺现象影响大幅上涨,中国相对而言今年天气较温和,粮食丰收。但是,农产品生产成本却受劳动成本、土地成本及化肥农药价格的影响,笔者相信农产品价格正在经历结构性上涨。笔者预测,CPI将在明年第二季度突破3%,アグ モカシン,全年物价水平在3-3,UGG ブーツ 人気.3%之间。通胀的复燃,将关闭降息的窗口。中国人民银行自今年中以来,基本上以逆回购的形式,对流动性实施微调。这种作法的灵活性、连续性较佳,也不会像降息那样触动热钱流入房市。但是逆回购对短期资金、利率的影响较大,对长期资金的调控效果不甚理想,这在收益曲线上表现得很清楚。也许新一届政府有重启利息政策工具的需要,不过降息的窗口正在关闭。价格受厄尔尼诺现象影响大幅上涨,中国相对而言今年天气较温和,UGG ブーツ 店舗,粮食丰收。但是,农产品生产成本却受劳动成本、土地成本及化肥农药价格的影响,笔者相信农产品价格正在经历结构性上涨。笔者预测,CPI将在明年第二季度突破3%,全年物价水平在3-3.3%之间。通胀的复燃,将关闭降息的窗口。中国人民银行自今年中以来,基本上以逆回购的形式,对流动性实施微调。这种作法的灵活性、连续性较佳,也不会像降息那样触动热钱流入房市,UGG ブーツ 人気。但是逆回购对短期资金、利率的影响较大,对长期资金的调控效果不甚理想,这在收益曲线上表现得很清楚
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