A Telling Sign from China’s National Bureau of Statistics

In this morning’s press release China’s National Bureau of Statistics removed the phrases ‘appropriately loose’ monetary policy and ‘expansionary’ fiscal policy from their press release. This is further evidence of the Chinese government’s shifting stance toward it’s monetary policy and could add support to rumors of a potential 27bp rate hike on Friday, which can not be confirmed. I will publish a more detailed piece tomorrow analyzing China’s newly released economic data and what its implications toward future tightening.