China Speeds Up The Rate of Monetary Expansion In September

October 13th, 2010 by Belisarius

(For September 2010)

The most broad measure of money supply – M2 rose 19.0% YoY in September vs. 18.9% consensus and 19.2% growth in August. Slight tick up in money supply growth.

Chart 1. China Monetary Aggregates

China new loans rose CNY 595.5 billion in September vs. CNY 545.2 billion in August and consensus of CNY 500.0 billion. Total new loans for this year are currently at CNY 6.3 trillion; 84% of the annual target. POBC will not live up to its target.

Chart 2. China New Loans


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