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China: Central Economic Working Conference
In China a big official meeting known as the Central Economic Working Conference took place this weekend, and the result was that the government intends to keep policy very loose and accommodative.
In China a big official meeting known as the Central Economic Working Conference took place this weekend, and the result was that the government intends to keep policy very loose and accommodative.
Nomura's Zhiwei Zhang summarized the conference in a note titled Government decides to keep 2013 policy stance loose.
We summarize the note in bullets:
- Monetary policy will remain loose.
- The government will not take action to curb property price appreciation in 2013.
- Structural reform work will probably take place in 2014, not 2013.
- Infrastructure spending will pick up.
- GDP forecast of 8.2% remains on track.
Bottom line: More aggressive easing with little concern for inflation. Bullish.
Read more: http://www.businessinsider.com/china-central-economic-working-conference-decides-to-keep-policy-bullish-2012-12#ixzz2FEzen5bc
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