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PBoC likely to continue with enhancing liquidity fine-tuning and keeping tightening bias - Barclays

The People’s Bank of China is expected to carry on with enhancing liquidity fine-tuning while maintaining a tightening bias in both monetary and regulatory policy, as long as growth continues to be more than 6.5 percent, noted Barclays in a research report.

While the central bank lowered its target for banks’ reserve requirement ratio, it is not viewed as the central bank turning toward an easing bias as there is no urgency or necessity for the central bank to undertake such a path, stated Barclays.

Strong economic growth, the likely acceleration in consumer price inflation, solid PPI inflation and lowered pressures for capital outflows and CNY depreciation, imply that the PBoC would continue to maintain its monetary and regulatory policy tightening bias, and remain committed to encouraging deleveraging and controlling risk during the quarters ahead.

In the meantime, the Party Report underlined the improvement in macro policy coordination and stated that regulation is preferred over liberalization. The report stated that China would create new methods to enhance macro regulation, and improve mechanisms for coordinating fiscal, monetary, industrial and other economic policies.

At 14:00 GMT the FxWirePro's Hourly Strength Index of Chinese Yuan was slightly bearish at -72.5372, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at 37.9889. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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2017-11-23 11:36:21
0m

November 23 12:30 UTC Released

BRForeign Direct Investm't*

Actual

8.2 Bln USD

Forecast

7.2 Bln USD

Previous

1.0000 Bln USD

November 23 12:30 UTC Released

BRCurrent Account*

Actual

-0.343 Bln USD

Forecast

-1 Bln USD

Previous

0.657 Bln USD

November 23 13:00 UTC 33m

RUCbank Wkly Reserves*

Actual

Forecast

Previous

426.4 Bln USD

November 23 13:00 UTC 33m

ZAPrime Rate*

Actual

Forecast

Previous

10.25 %

November 23 13:00 UTC 33m

ZARepo Rate*

Actual

Forecast

6.75 %

Previous

6.75 %

November 23 13:30 UTC 3333m

CARetail Sales MM

Actual

Forecast

0.9 %

Previous

-0.3 %

November 23 13:30 UTC 3333m

CARetail Sales Ex-Autos MM

Actual

Forecast

1 %

Previous

-0.7 %

November 23 14:00 UTC 6363m

MXIGAE Econ Activity MM

Actual

Forecast

0.14 %

Previous

0.21 %

November 23 14:00 UTC 6363m

MX1st Hlf-Mth Core Infl YY*

Actual

Forecast

4.71 %

Previous

4.75 %

November 23 14:00 UTC 6363m

MX1st Hlf-Mth Core Infl YY*

Actual

Forecast

0.73 %

Previous

0.62 %

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