China Monetary Expansion Speeds Up In March
(For March 2011)
The most broad measure of money supply – M2 rose 16.6% y-o-y in March vs. 15.4% consensus and 15.7% rise in February.
Chinese banks issued CNY 679.5 billion of new loans in March vs. CNY 535.6 billion in February and consensus of CNY 600.0 billion. The government has not provided a target for this year, but inferring on Q1 numbers the pace of loan growth could be similar to last years pace.
