Brief China: New J Hutton – Exploration Report (Weeks Ending 30/08/19) and more

In this briefing:

  1. New J Hutton – Exploration Report (Weeks Ending 30/08/19)
  2. Understanding Chinese Monetary Policy: Trying Hard to Ease?

1. New J Hutton – Exploration Report (Weeks Ending 30/08/19)

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2. Understanding Chinese Monetary Policy: Trying Hard to Ease?

Smartkama

  • Latest RRR cuts are only tactical and do NOT signal strategic monetary ease
  • PBoC liquidity injections are the key monetary signal
  • Liquidity jumped from May through July but August flat and September weak
  • No indication yet that PBoC easing aggressively….but they will

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