129788422100937500_173Events March financial statistics data released today by the people's Bank of China.
Our reviews are as follows. Commenting on the generalized mobility significantly improved. March, M2 grew by 13.4%, above our forecast of 12.6%
tera power leveling, an increase in per cent in February; adjusted annualised growth rate of 19.7% per cent from the same quarter, 215.1% of the month improved markedly. March new loans in Renminbi to $ 1.01 trillion, significantly higher than the $ 7,000 more than in December, higher than market expectations. Also in March, the social scale of finance to $ 1.86 trillion, an increase over February.
Generalized liquidity indicators show a significant improvement. Recommended reading BankRestart first set interest rates to 85 percent discount Bank this week, releasing billions of liquidity funds Vice President of Fudan University School of Economics in favour of the Bank salary CPI down or cause a fall in financial product receipts Standard Chartered Bank employee suspected of helping money-laundering was detained a live inventory of more than 4,000 concubines when deposits of Chiefs of the Kingdom of that Gold Star Baby | · interbank market wideYu conduction to the liquidity of the real economy. March weighted average interest rates in the interbank market interbank months fell 0.8% per cent last month, weighted average pledge of inter-bank bond repo rate fell 0.9% per cent last month, this month with bank deposits increased significantly, the interbank market liquidity continued to improve. Social FinanceTotal and the increase of new loans, then the real economy already feeling the effects of easing broad liquidity has improved significantly. · will help ease market fears of insufficient effective demand for loans before. New loans increased significantly thanks to Central Bank credit lines of moderately relaxed, Bank lending capacity has increased. Under easing in new loansStrong rebound, also shows current demand for credit remained strong. Big increase in new loan rebounded to promote deposit. March M2 growth mainly comes from the total deposit of RMB increased March deposits increase by 2.95 trillion yuan, up from $ 1.6 trillion in February, increased by more than $ 271.2 billion compared with last year, is under the high base effect this month M2 per centTo maintain high growth rates of the main reason. March deposits increased substantially, mainly reflecting increased credit and off-balance sheet financing business back to the table of results. New loans increased significantly, cause an increase in deposits that are derived. March credit demand substantial recovery, Central Bank eased credit control, significant increase in lending, promoting deposit growth to pick up. At the same time, due to the end of examinationAnd the effects of the recent decline in yields, March banking products, such as off-balance sheet business return amount may be larger in the table, on deposits have some up. Total relaxation of monetary policy effect appeared high profile relaxation measures of rhythm and intensity in the future will be lower. March monetary and credit growth rebound, in line with a regular meeting in the first quarter, the Central Bank's monetary policy committee mentioned in the notice"Maintaining monetary and credit growth" policy target, reflecting the total relaxation of monetary policy effectiveness. In our view, the total relaxation of monetary policy unchanged this year. From January-February of foreign exchange as well as a quarterly trade data, annual Foreign Exchange account for Delta dropped significantly compared to last year is still the probability of the event, the Central Bank still needs to cut the statutory reserve ratio to reverseHedges, to maintain a modest credit growth. But relaxing rhythm and is subject to the trend of slower growth and inflation
tera gold, increased policy flexibility. Because of the apparent resumption of monetary and credit growth in March, while March CPI rebound, short term signals release of significance to the further monetary easing measures the probability of falling
tera gold, but this does not meanA tightening of policy, but rather is easing in early results show. Wensheng Peng to CICC's Chief Economist
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