Today’s meeting began with a battery loaded macro data in Europe and Asia, highlighting the publication of the Consumer Price Index (CPI) in China which reported in February, its highest in 16 months, renewing the prospects for monetary tightening overheating and curb future economic bubble in China. However, possible actions to take are taken as positive by the operators, then increase the upward pressure to appreciate the yuan. According to the Bureau of Statistics, the CPI rose to 2.7% in February from 1.5% in January year measurement, easily beating forecasts for a rise of 2.3%.
Among other things, we have known that Japan also revised down the growth of its Gross Domestic Product (GDP) between October and December to 3.8% year-paced, eight tenths less than originally announced, which has not slowed their expectations for economic recovery. Significantly, in 2009, during the global crisis, the Japanese suffered a GDP drop of 5.2% over the previous year, according to the Ministry of Finance, which represents a drop two tenths higher than initially reported. For its part, the government stressed that Japan’s recovery pillars are stable, with exports rose 5% in the last quarter of 2009 and domestic demand rose 0.7% thanks to the incentive plans made.