"These [central bank] comments reduce the odds of an imminent, aggressive policy easing given that the PBoC appears to be at ease with the current liquidity condition and the level of interest rates," Aidan Yao, senior emerging Asia economist at AXA Investment Managers, said in a statement.
"Overall, Sun's comments suggest that the PBoC has not altered its prudent policy stance despite stiffened economic headwinds," Yao said.on Tuesday, with exports surging 25.6% and imports — a sign of domestic demand — climbing 33.1% from a year ago. Other economic reports have showed slowing growth in the last few months, especially in late July and August as China battled its largest outbreak of the coronavirus since the initial onset of the pandemic in early 2020.Growth will be under pressure in the third quarter, Xu Hongcai, deputy director of the Economics Policy Commission at the China Association of Policy Science, said in a phone interview, according to a CNBC translation of his Mandarin-language remarks.
He noted that exports cannot sustain growth in the long-term, and the economy needs to rely more on consumption and industrial investment, both of which have lagged. But the central banks' commentary reflects overall stability in the economy, Xu said, and he expects government spending and other fiscal policy measures will play a greater role in stimulating the economy in the next few months.
Not what I read today/ CHINA'S CABINET: WE WILL HELP TO STABILIZE MARKET EXPECTATIONS AND KEEP ECONOMIC OPERATIONS STABLE - STATE MEDIA.
nice
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