China Jan-Feb fiscal expenditures +3.6% Y/Y; fiscal revenues +0.7% Y/Y
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BofA (BAC) says in the week through 14th March, total card spending +4.9% Y/Y (vs +3.2% average during Feb)
CK Hutchinson (0001 HK) FY (HKD): Net Income 11.84bln (exp. 21.74bln), Total Revenue 507.3bln (exp. 483.5bln), EBIT 57.6bln (exp. 59.3bln)
China Jan-Feb fiscal expenditures +3.6% Y/Y; fiscal revenues +0.7% Y/Y
Riksbank leaves its policy rate unchanged at 1.75% as expected; rate is expected to remain at this level for some time to come
SNB maintains its Policy rate at 0.00% as expected; prepared to intervene in currency markets to country currency appreciation if needed; "willingness to intervene in the foreign exchange market has increased"
On the Newsquawk feed at , 20 minutes before this page.
Context
China's fiscal expenditures rose by 3.6% year-over-year, while fiscal revenues only increased by 0.7%. This divergence suggests a growing fiscal imbalance, which could imply more pressure on government spending going forward and potentially impact economic growth and policy decisions.
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