China Finance Minister Plans Briefing as Investors Seek Stimulus

-- China announced it would hold a briefing on fiscal policy on Saturday as investors look for additional measures to stimulate the world’s No. 2 economy.Should Evictions Be Banned After Hurricanes and Climate Disasters?

“Markets continue to swing between disappointment and hope for fresh, meaningful fiscal stimulus that would have a greater impact on business sentiment and employment,” said Fiona Lim, senior currency strategist at Malayan Banking Bhd. “That said, the sense of urgency at the top is clear and recent monetary easing and housing measures were also sizable. As such, it is worthwhile to be cautiously optimistic at this stage.

Banks including Morgan Stanley and HSBC Holdings Plc expect 2 trillion yuan in stimulus, while Citigroup Inc. put the amount at 3 trillion yuan. Economists have speculated measures such as support for local government financing, infrastructure investment, a consumption boost and bank recapitalization.

Adding to the frenzy of action aimed at stabilizing growth, the Chinese central bank on Wednesday said it held its first joint meeting recently with the Ministry of Finance about diversifying the monetary policy toolbox and “gradually” increasing the monetary authority’s sovereign bond trading in the open market.

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