A quick rundown on the recent China data, their outlook for the Bank of Canada and the National Congress
- Chinese data remain stable ahead of the Party Congress.
- China's credit growth remained broadly steady in September, suggesting moderating but still-solid demand
- PPI inflation surprised to the upside, driven by rising costs in the smelting, chemical and paper industries, while CPI inflation was in line with consensus
- We expect the PBoC to maintain its monetary and regulatory policy tightening bias in the coming quarters
- The Communist Party Congress this week will offer clues on the upcoming economic agenda, and markets will watch for any new high-level appointments
