By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The People's Bank of China is ...
- A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.
The PBOC's decision and wider developments around China's markets and economy will dominate investors' thinking this week along with the U.S. Federal Reserve's annual Jackson Hole Symposium, where Fed Chair Jerome Powell will speak on Friday. Economists at Goldman Sachs and Barclays are among the many who expect the PBOC to lower its one-year loan prime rate by 15 basis points to 3.40%, which would be a new low.
Not only is the real estate crisis a threat to growth in its own right - the sector is a huge part of the economy - but the scale of indebtedness raises questions over the strength and stability of the $3 trillion shadow banking system.
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