China state media says the recovery in economic growth paves the way for monetary policy normalization

A front-page piece in China’s Economic Information Daily

  • Says the economy in the country is expected to grow by around 8% this year
  • the recovery in GDP paves the way for policy normalization

Info comes via Bloomberg 

Its worth paying attention to cues such as these in state media. The  People’s Bank of China have said recently that policy will remain steady (I’m paraphrasing), which indicates no change is coming soon … but monetary policy change from the PBOC can come quite abruptly and with little warning. Hence the seeking of cues from elsewhere in China (such as state media statements).

CNH has steadied but the trend on the daily chart is clear:

A front-page piece in China's Economic Information Daily

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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