Bloomberg with the headline
- PBOC adviser sees no further tightening in H2 monetary policy
Nothing further at this stage, just the headline.
I would suggest that is right, the big party Congress is coming up after (China) summer and the last thing authoriites will want is trouble in the economy .... hence you can expect efforts on deleveraging to be dialled back somewhat on approach.
Added .... more now:
- Market interest rates will stabilise in H2, may even drop slightly
- If the Fed hikes again it does not mean the People's Bank of China will follow suit
