News Snapshot:
China: Credit growth slumps in April; PBOC cuts rates May 13, 2022 In April, Chinese banks distributed a mere CNY 0.6 trillion (roughly USD 100 billion) in new yuan loans, down from March’s 3.1 trillion figure and less than half the amount that markets had expected. Annual growth in M2 money supply rose from 9.7% in March to 10.5% in April, while annual growth in the stock of total social financing (TSF)—a broader measure of credit and liquidity in the economy that includes loans, bonds and other non-traditional instruments—fell from 10.6% to 10.2%. The soft credit data in April was...
