Neutral PBOC Sets Up First U.S.-China Tightening Since 2006
- ‘We need to defuse a flurry of risks,’ official tells forum
- 2017 growth estimates increase to 6.4% from 6.3% in September
China Emphasizes Prudent, Neutral Monetary Policy
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China’s leaders are pledging a harder push to rein in risk next year and emphasizing prudent and neutral monetary policy. With the Federal Reserve flagging a steeper interest-rate path, that sets the scene for the first U.S.-China tightening since 2006.
President Xi Jinping and his top economic policy lieutenants adjourned their annual planning conference Friday with a vow to safeguard the financial system and deflate asset bubbles. Maintaining stability and making progress on supply-side reform will be key 2017 themes, they said in a statement issued after the three-day Central Economic Work Conference.