China August M2 money supply +6.3% vs +6.2% y/y expected

• Prior +6.3%
• New yuan loans ¥900 billion
• Prior ¥260 billion

China’s bank lending tumbled in July to its lowest in almost 15 years but it seen rebounding back a little in August, though estimates were expecting it to climb back up to around ¥1.0 trillion. Looking at the year-to-date figure, China’s new yuan loans is totaling up ¥14.43 trillion so far. Overall, I would argue that it still points to credit demand still being rather lackluster and the PBOC possibly has to do more as such to drive a resurgence in that area i.e. more rate cuts.

This article was written by Justin Low at www.forexlive.com.