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CHINA: MNI SOURCE: Expect More RRR Cuts, M2 Rebound 9%: PBOC Source
- China's latest Politburo meeting emphasized the importance of stable economic
growth, placing maintained economic growth levels higher up the agenda and
hinting at more easing policies, a source close to the PBoC told MNI.
- "Although the policymaker has not addressed the change directly, there are
already signs," the PBOC official said. "So we would see more RRR cuts and M2
growth is expected to rebound above 9% this year," he added.
- The Politburo meeting, alongside last week's RRR cut, conveys a signal that
the central gov't has become more focused on maintaining economic growth, rather
than financial deleveraging. How the gov't decides to expand domestic demand
while adjusting the economic growth structure needs to be closely watched.
- Increasing domestic demand has often referred to boosting property investment
and more infrastructure investment. However, this time around, due to concerns
over financial risk and the deleveraging moves, the focus will likely be on
encouraging domestic consumption. (MNI - For Full Story See Main Wire At 09:10
BST 04/24)
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |