recasepunc/vosk-adapted.txt

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the beijing and shanghai welcome to the market strata open i'm yvonne good morning and i'm david ingles counting down of course the diablo trade on the chinese
mainland here in hong kong let's get your top stories today taper and a timetable dominating the latest fed minutes as official debates the exit path meanwhile i got beijing heading the other way hinting at the first triple r cut in more than a year and after the didi debacle here china may move to close a loophole long used
by companies to take their listings abroad all to enhance that was a horrible mistake council yesterday from china as a maybe it's time to cut the triple r to help them with small businesses they are struggling from the rise of raw material costs the key question is how likely is this yeah what they say it chances are likely it's probably going to be up yet
the fact that they're saying it might actually already mean we're getting some sentiment coming through in terms of an improved material tracker ten year yield we'll get to that in just a moment in china we're now flirting with the three percent level equity markets futures are pointing up as you can see here in china though broadly speaking though we're down for a seven day across asia seventh day in the last excuse me
in the last eight sessions here have little commodity markets we're stabilising across your oil or oil prices we're still down five six per cent from highs though as far as that is concerned fx markets your story is guys can we change the police are we're looking at generally speaking the dollar that's very much in focus here so you look at that against the euro you look at that
against the chinese currency twenty four hours ago who would have thought we were talking about this sort of more divergence and starker labour discord between where you are in a pboc to easily in the fed and very quickly we alluded to this of course if one three percent on your chinese ten year yield and we're not one point three percent lower and lower
yields there is a charge for you china's top us ten year yield is at the bottom yeah the chinatown area lowest since we saw last year of september yup
yeah it is a really big major shift in china's central bank policy that's the key question could it be coming of course let's flash out that into what we heard from the cabinet there raising the possibility of a cut to the reserve requirement ratio to both the economy at the same time we also from a former pboc official sheng songcheng said the central bank should actually
cut rates he's not just talking about a triple r and either the second half is an important window when china's monetary policy can tilt towards loosening while remaining stable and the interest rates can be lowered in a reasonable and moderate manner let's get the take from also be as well whether daisy i'm david chiu here the short of it is
so i guess one point if we still haven't gotten that if in the event that we do their take is they it might be a little bit too aggressive to address some of the softness in the economy in other words what they're saying is it needs some help the economy maybe not this much yeah there preferring perhaps perhaps liquidity injections here and there but this might signal a bit too much
for when it comes to reflating the economy joining us out of the dice all this let's bring in wang tao ubi as head of asia economics and the chief china economists as well wang tao thanks much for joining us first off do you think this is actually a real possibility now
or well will shrink or fade contro as a frequently called using triple r cut as a tool so i think yes indeed it is a real possibility that they could do this however in the past whenever the state council called for this a few days to a couple of weeks later we were
would have we would see a triple r cut if they called for it and but it's worth noting that last year in june shoot at the chicago auto quote for it and by the pbc did not hold onto with any market so i i would say at this moment it's probably a relatively high likelihood but anything
the wording is really you know about mitigating the higher cost of commodity prices they impact on at an ease and make their effective conquered funding a bit lower so it's possible that it's going to be a targeted not a overall triple cut and i i don't think this really reflects a
wholesale shift in monetary policy i think very very much in the same state concrete statement also talked about