The Chinese know how to get the job done.

Below, in it’s entirety, is the text of DanskeBank’s email ‘teaser’ for their morning “Flash Comment” on today’s Chinese central bank  interest rate cut.

• The Chinese central bank today cut both its leading interest rates aggressively by 108 bp.
• While the size of the cut was a surprise, it was a very sensible move.
• By frontloading monetary easing, monetary policy will have an impact when the economy most needs it, before the fiscal stimulus really starts to work.  [emphasis added]

Those of you who don’t see the difference between the Chinese policy response and that of the US have not been paying attention. Don’t bother reading the complete copy of the DanskeBank piece, which may be found in the link below.

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I used to work with numbers for a living.  Does the Chinese language have an equivalent to the English language idiom better late than never ?  If  they don’t, maybe it’s not true. Looking for my next job or at least my next idea.  Till next time.

REFERENCE

 
F.J. Nielsen, DanskeBank Flash Comment – China: Cut In Interest Rates, 26 Nov 2008.