Treasury Secretary Yellen concluded her visit to China, saying that the U.S. and China have significant disagreements and they must be communicated clearly and directly.
The People’s Bank of China should shift its stimulus focus to consumption, according to a PBoC advisor.
China’s CPI was unchanged yr/yr in the June reading while PPI contracted for the ninth consecutive month.
China’s June CPI -0.2% m/m (expected 0.0%; last -0.2%); 0.0% yr/yr (expected 0.2%; last 0.2%).
June PPI -5.4% yr/yr (expected -5.0%; last -4.6%)