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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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G10 Markets
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Real-time insight on key fixed income and fx markets.
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Emerging Markets
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Data
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Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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About Us
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
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MNI China Press Digest October 20: Growth, Q4 Credit, PBOC
The following lists highlights from Chinese press reports on Thursday:
- China should be able to stabilise the economy and return to a growth rate of around 5% if Covid outbreaks are controlled, China Newsweek reported citing Liu Yuanchun, president of Shanghai University of Finance and Economics. China’s current inflation is not high and the growth rate of some central and western regions can still reach 6-7%, Liu was cited as saying. The domestic demand-led growth model will show its strength as policies to promote consumption and investment kick in. Liu said to expand domestic demand, it was essential to reform the income distribution system and stimulate the vitality of the private economy and state-owned economy, as well as foreign enterprises in China.
- China's commercial banks are ramping up credit supply in Q4 in response to top policymakers' calls to increase support for the real economy, Yicai.com reported citing industry sources. Banks have lowered the borrowing threshold in key areas, reduced corporate loan rates and improved the efficiency of application reviews. Manufacturing, SMEs, technology-based enterprises, and green development are expected to have received increased credit support, Yicai said. There could be a significant increase in October credit growth and aggregate finance may remain above CNY2 trillion, with the growth rate to accelerate to as much as 10.8% from September’s 10.6%, the newspaper said citing Wang Yifeng, chief banking analyst with Everbright Securities.
- The People’s Bank of China still has room to lower financing costs in the real economy and quicken the use of structural tools to help promote the steady growth of total credit, China Securities Journal reported citing analysts. The average interest rate of corporate loans was 4.05% at the end of August, the lowest rate on record. Both medium and long-term corporate loans, as well as total credit, are about to increase, the newspaper said citing Zhang Xu, chief fixed income analyst at Everbright Securities. Guiding down the 5-year Loan Prime Rate, which many lenders base mortgage rates on, is the key to a recovery in medium and long-term borrowing by residents, the newspaper said citing analysts.
To read the full story
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Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.