The People’s Bank of China released its Q2 2026 Monetary Policy Implementation Report, saying total social financing (TSF) and broad money (M2) are broad macro‑financial aggregates that capture diverse financing channels. The report notes that, mathematically, rising bond financing can cause M2 or deposit growth to diverge from loan growth and that such divergence does not necessarily indicate weaker support for the real economy or idle funds. Compared with nominal GDP growth, TSF and M2 growth

2026-08-12

The People’s Bank of China released its Q2 2026 Monetary Policy Implementation Report, saying total social financing (TSF) and broad money (M2) are broad macro‑financial aggregates that capture diverse financing channels. The report notes that, mathematically, rising bond financing can cause M2 or deposit growth to diverge from loan growth and that such divergence does not necessarily indicate weaker support for the real economy or idle funds. Compared with nominal GDP growth, TSF and M2 growth remain higher, indicating monetary and financial conditions are relatively loose.

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2026-08-13

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2026-08-12

Bank of France expects Q3 GDP to rise 0.2%, unchanged from Q2 and slightly above market consensus of 0.1%. Services — notably transport, information and communications — should continue to support activity; manufacturing rebounded in August. Energy output is expected to expand, while construction may weaken further amid fewer public project contracts. A survey of about 8,500 firms showed slower July increases in raw material costs and selling prices, suggesting the pass-through of spring input-c