The European Central Bank would do “a lot, lot more” in terms of easing monetary policy if it mimicked the aggressiveness of foreign counterparts, says David Mackie, chief European economist at JPMorgan Chase & Co.
China’s stocks listed in the U.S. retreated from a one-month high after the nation raised interest rates for the third time this year to tame inflation that has quickened to the fastest pace since 2008.
China’s unexpected surge in exports last month renewed concern from analysts at Goldman Sachs Group Inc., UBS AG and Australia & New Zealand Banking Group Ltd. that statistics from the nation can be unreliable.
China’s customs administration said every dollar of trade is documented, defending the quality of export data that analysts at UBS AG and Australia & New Zealand Banking Group Ltd. said may fail to capture the true picture.
China’s stocks fell to the lowest level in a week after a report showed producer prices declined the most since 2009 and companies from ZTE Corp. and Yunnan Copper Industry Co. estimated third-quarter losses.