KEY TAKEAWAYS
- China announced plans for an ad-hoc press briefing tomorrow on the economy by its financial regulators, including its top central banker.
- The impromptu press conference is fueling investor hopes that Beijing is planning to issue large stimulus measures to boost the hard-hit economy.
- Bloomberg reported that some economists are expecting the regulators to cut policy rates or the amount banks need to set aside as reserves, and also measures to support the country’s troubled housing market.
China announced plans for an ad-hoc press briefing tomorrow on the economy by its financial regulators, including its top central banker—fueling investor hopes that Beijing is planning to issue large stimulus measures to boost the hard-hit economy.
Bloomberg reported that some economists are expecting the regulators to cut policy rates or the amount banks need to set aside as reserves, and also measures to support the country’s troubled housing market.
PBOC Lowers 14-Day Reverse Repo Rate
The People’s Bank of China also lowered its 14-day reverse repurchase rate Monday.
The report said that economists are increasingly questioning whether Beijing can meet its target for China to grow by 5% this year. China’s housing sector has been in the doldrums for years, hurting consumer appetite for spending and weighing on the economy.