This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a loosening of China's monetary policy indeed leads to higher asset prices, which in turn are linked to household consumption. However, the importance of the wealth channel as a part...

This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a loosening of China's monetary policy indeed leads to higher asset prices, which in turn are linked to household consumption. However, the importance of the wealth channel as a part...

This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a loosening of China's monetary policy indeed leads to higher asset prices, which in turn are linked to household consumption. However, the importance of the wealth channel as a part...

This paper studies the wealth channel in China. Although the wealth channel has been found to be functioning in many advanced countries, its existence is yet to be explored in most emerging economies, also in China. In order to illuminate dynamics between monetary policy, asset prices and...

The consumer price index stood at 0.6% in October 2013 (against 0.5% in October 2012), having shown a 0.4 p.p. increase as compared to September 2013. Therefore inflation increased more than 6.3% on a year-over-year basis at the end of the 10-month period. In the first 18 days of November 2013...

In September 2013, the Consumer Price Index (CPI) amounted to 0.2% (against 0.6% in September 2012), which is by 0.1 pp. higher than its value recorded in August 2013. Thus, the inflation rate in per annum terms, as seen by the results of the first 9 months of 2013, increased above 6.1%. Over...

In August 2013, the Consumer Price Index (CPI) amounted to 0.1% (same as its level in August 2012), which is by 0.7 pp. lower than its value recorded in July 2013. Thus, the inflation rate in per annum terms, as seen by the results of the first 8 months of 2013, increased above 6.5%. Over the...

In July 2013, the Consumer Price Index (CPI) amounted to 0.8% (against 1.2% in July 2012), which is by 0.4 p.p. higher than its value recorded in June 2013. Over the period from 1 August through 26 August, the CPI rose by 0.1%. Thus, the inflation rate in per annum terms increased above 5.6%. In...

In June 2013, the consumer price index stood at 0.4% (against 0.9% in June 2012), being 0.3 p.p. less than in May 2013. The consumer price index reached 0.8%. within the first 20 days in July 2013. Therefore, inflation exceeded 6.9% on a year-on-year basis. According to Bank of Russia's...

The Bank of Russia Board of Directors decided on 31 July 2015 to further cut the base rate to 11.0% p.a., or by 0.5 p.p., because risk balances had shifted towards economic downturn. Consumer prices in July 2015 increased 0.8% (0.5% in July 2014), showing a growth of 0.6 p.p. compared to the...