Brassed off after a Golden Week
Beijing authorities disappointed those hoping for a big fiscal spend. NAB’s Ken Crompton says the disappointment was felt anywhere with meaningful exposure to China.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 9th October 2024
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Markets with any China connection have responded negatively to news from the National Development Reform Commission. An announcement was expected, and most will have assumed it would include a large swag of spending from the three trillion Yuan that was believed to have been earmarked for fiscal stimulus. But, as NAB’s Ken Crompton discusses with Phil, all they did was brought forward 200 billion Yuan from next year’s budget. They also discuss yesterday’s NAB business survey and look ahead to the RBNZ today. A big cut is expected, but will there be another one next time round?
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