China April M2 money supply +8.0% vs +7.3% y/y expected

• Prior +7.0%
• New yuan loans ¥280.0 billion vs ¥700.0 billion
• Prior ¥3.64 trillion

After the big surge in March, new bank loans in China fell off with the reading even coming in well below estimates. The ramp up in Q1 comes as policymakers were ramping up stimulus in preparations of a trade war with the US. So, there’s that. Still, outstanding yuan loans are seen up 7.2% year-on-year as of April.

This article was written by Justin Low at www.forexlive.com.