News Snapshot:
Monetary policy has returned to normal from crisis-mode settings, said CITIC Securities. China’s central bank this week withdrew the most cash from its financial system in three months, indicating it may be shifting away from crisis-mode policy settings as the economy recovers. The bank stepped up easing in recent months after sweeping Covid lockdowns had hammered growth, but recent signs of a rebound now suggest it’s on the path to policy normalisation. “Monetary policy has returned to normal from a crisis response mode,” said Ming Ming, chief economist at CITIC Securities. The People’s Bank of China (PBOC) cut its daily...
