Monday 14th October 2024
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As predicted by Tapas on The Morning Call last week there was no definitive plan fiscal plan presented by China’s Ministry of Finance on Saturday. As suggested, it will need to be ratified by the standing committee of the National People’s Congress, which is likely to happen before the end of the month. But NAB’s Ray Attrill explains some of the plans that were outlined, including giving local authorities access to earmarked cash that could help stimulate the economy almost immediately. There’s also a look at last week’s US PPI number and what that, in conjunction with the hotter than anticipated CPI number, could mean for the path of rate cuts by the Fed before Christmas. Might there just be one cut to come?
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