Trial now
USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

MNI (London)

China's M2 money supply rose 10.7% y/y in July, slowing modestly from the growth rates see in the past three months to the slowest pace since April, indicating the People's Bank of China has reduced the scale of monetary easing introduced to support the pandemic-hit economy. The figure fell short of the forecast 11.2%.

Both new loans and total social financing were about half the level of the previous month, according to data released Tuesday by the PBOC.

Here are other key figures:

  • New loans fell to a five-month low of CNY992.7 billion in July, nearly half the CNY1.81 trillion in June, far below the forecast CNY1.25 trillion.
  • Aggregate financing to the economy shrunk to CNY1.69 trillion, more than half June's CNY3.43 trillion, underperforming the CNY1.947 trillion projected by analysts.
  • Shadow banking transactions reduced by CNY264.9 billion, compared to CNY1.4 billion expansion in June. Entrusted loans, trust loans and undiscounted bankers' acceptances declined by CNY15.2 billion, CNY136.7 billion and CNY113 billion from June, respectively
MNI London Bureau | +44 203-586-2225 | les.commons@marketnews.com
True
MNI London Bureau | +44 203-586-2225 | les.commons@marketnews.com
True