Waiting for the “pragmatic and forceful” action from China
China's State Council met on Sunday as lunar new year holidays came to an end. Chinese Premier Li Qiang called for “pragmatic and forceful” action to boost economic confidence and that may have helped mainland stocks to a 1.2% gain but there's plenty of hope baked into recent gains.Xinhua wrote that Li urged officials to “do more things that are conductive to boosting confidence and expectations, and ensure policymaking and execution are consistent and stable,” according to Xinhua.No steps were outlined and the PBOC didn't cut rates at Sunday's meeting but hope springs eternal.If there is a big surprise this week, it would be for something stronger from China. This article was written by Adam Button at www.forexlive.com.
China's State Council met on Sunday as lunar new year holidays came to an end.
Chinese Premier Li Qiang called for “pragmatic and forceful” action to boost economic confidence and that may have helped mainland stocks to a 1.2% gain but there's plenty of hope baked into recent gains.
Xinhua wrote that Li urged officials to “do more things that are conductive to boosting confidence and expectations, and ensure policymaking and execution are consistent and stable,” according to Xinhua.
No steps were outlined and the PBOC didn't cut rates at Sunday's meeting but hope springs eternal.
If there is a big surprise this week, it would be for something stronger from China. This article was written by Adam Button at www.forexlive.com.
