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Chinese stocks were down 6% today. RBS explains:
More monetary easing measures expected with a broadbased RRR cut on the way
Latest rules unveiled by the CSRC and CBRC could cool down the booming equity market to some extent through preventing funds released for the real economy from rushing into the stock market. It could pave the way for the PBoC to deliver more easing measures including a broad-based RRR cut in our view.
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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.
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