China New Bank Lending Misses Forecasts During March
New bank lending in China reached 2.99 trillion yuan in March but missed forecasts. The data signals soft demand and no immediate need for policy easing.
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New bank lending in China rose less than analysts had anticipated in March, signaling that the People's Bank of China (PBOC) is maintaining a steady hand rather than rushing toward further policy easing. Commercial banks in the country issued 2.99 trillion yuan ($438 billion) in new yuan loans last month, a sharp increase from the 900 billion yuan seen in February but falling short of the 3.4 trillion yuan consensus forecast recorded by Reuters.
