Saturday Night Quarterback says, For the week ahead expect…
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People’s Bank–finally–cuts interest rates
After a year and a half of trying—and largely failing—to stimulate China’s economy by supplying more funds to the country’s banking system, today the People’s Bank of China went back to its demand side tools and cut the benchmark one-year deposit rate and the one-year lending rate for the first time since July 2012
Speculators get it right as People’s Bank adds cash to China’s banks
Traders who speculated yesterday that bad economic news over the weekend showing a slowdown in industrial production would lead the People’s Bank of China to throw some cash at the economy to stimulate growth will get their reward tomorrow.
Slower credit growth in China for April; People’s Bank more likely to act in summer?
Looking backward to April, it’s clear that the People’s Bank of China continued to keep the reins tight on credit and the money supply. Looking ahead, though, you can make the argument that tightness in April means that the bank is more likely to relax in June or July.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...
China’s growth continues to slow increasing speculation of a move by the People’s Bank
Chinese stocks continued to retreat overnight as the market absorbed yet another indicator that the Chinese economy is slowing. The Shanghai Composite index fell another 0.45% after retreating 0.3% yesterday. On Wednesday, April 23, the HSBC Markit Economics “ flash” manufacturing PMI at 48.3 for April showed the economy still in contraction.
China real estate market slows increasing belief that stimulus isn’t too far off
The overnight news from China adds up to more confirmation of the current market belief that the Chinese government and the central bank will start to loosen credit relatively soon in response to slowing economic growth
Chinese stocks climb on bad GDP news–but by so little as to signal belief that stimulus is still a way off
Markets in Hong Kong and Shanghai were up overnight as traders decided that the bad news on China’s economic growth in the first quarter brings the People’s Bank of China closer to intervening to stimulate the economy. But the relatively small upward move in the indexes says that much of the market remains worried that growth will slow further before the bank decides to move.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Not just your usual central bank fold: People’s Bank retreat leaves China’s huge shadow-banking problem intact
The story behind the about face is more complicated than the usual central bank fold. What the People’s Bank discovered in the last week was that starving the banking system of liquidity not only didn’t rein in shadow banking lending but actually sent more money into the shadow-banking sector.
