Another China Rescue Plan

NAB Morning Call

Tuesday 10th December 2024

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Beijing has announced more in the way of fiscal and monetary stimulus to get the Chinese economy back on its feet. NAB’s Ken Crompton says it’s still light on the detail, but it caught markets a little off-guard, with nothing expected till later in the week. The response was most pronounced in Chinese equities, but oil is also higher and so is the Australia and NZ dollars. Today the RBA is likely to announce that rates won’t budge, but the detail will come from the press conference that follows. The NAB Business Survey is also out today.

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