China’s latest money supply data now out
– CNY 2.5trln prev
– end-Feb M2 yy +13.3% vs 13.7% exp vs 14.0% prev
– end-Feb M1 yy +17.4% vs +18.6% prev
– end-Feb outstanding CNY loans +14.7% vs +15.3% prev
Sharp fall in lending will add to the PBOC must ease even more campaign.