Iron ore futures fly on stimulus hopes

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Via Forexlive, China Securities Journal reports on the price monitoring center of the National Development and Reform Commission:

  • Chinese economy is expected to improve further in the second half of 2014
  • Inflation is seen stable – full year CPI growth estimated at around 2.3%
  • Said the PBOC should not boost overall liquidity any more via monetary policy given the fast M2 growth at the end of June
  • Said the government should look to gradually relax or totally lift housing purchase limits to prevent a sharp and overly-rapid fall in prices

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.