China state media says the recovery in economic growth paves the way for monetary policy normalization

Author: Eamonn Sheridan | Category: News

A front-page piece in China's Economic Information Daily

  • Says the economy in the country is expected to grow by around 8% this year
  • the recovery in GDP paves the way for policy normalization
Info comes via Bloomberg 

Its worth paying attention to cues such as these in state media. The  People's Bank of China have said recently that policy will remain steady (I'm paraphrasing), which indicates no change is coming soon ... but monetary policy change from the PBOC can come quite abruptly and with little warning. Hence the seeking of cues from elsewhere in China (such as state media statements).

CNH has steadied but the trend on the daily chart is clear:
A front-page piece in China's Economic Information Daily

Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose