Skip to main content

Fiscal stance, pork reserves, PBOC easing

Headline government spending has started to contract but tax cuts mean that the budget deficit is still close to its widest ever and we think the fiscal stance will remain accommodative in the coming quarters. And while the PBOC underwhelmed expectations for monetary easing this week, we think that will start to change soon. Finally, the release of frozen pork from the government’s strategic reserves will do little to prevent African Swine Fever from pushing inflation even higher in the coming quarters.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services


Get access