Rice policy to factor in rate rulings

Sep 19, 2023 12:39 am

KEY interest rates will likely be kept unchanged this Thursday, but a 25 basis-point hike could be ordered before the end of the year depending on how rice prices turn out, Hong Kong and Shanghai Banking Corp. (HSBC) said on Monday.

'With headline CPI (consumer price index) accelerating last month amid significant price pressures from rice, the monetary policy decision this week will likely be a tough one,' HSBC economist Aris Dacanay said in a report.

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