NDRC: China is confident in its ability to keep prices stable

Despite an uptick in China’s Consumer Price Index (CPI) in December, the country’s state planner, the National Development and Reform Commission (NDRC), said on Thursday that “China is confident in its ability to keep prices stable.”

Additional quotes

“China has a solid basis to keep prices stable in 2023.”

“In 2023, imported inflation pressure will remain in China.”

Market reaction

AUD/USD is unfazed by the above comments, keeping its range at around 0.6915, up 0.24% on the day.