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Bank of Montreal on China

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07:51 AM EDT, 08/21/2015 (MT Newswires) -- Bank of Montreal (BMO.TO) in its morning note, noted China's Caixin manufacturing PMI unexpectedly fell 1.6 pts to 47.1 in August, the weakest since March 2009 (or the depths of the great recession). BMO said this is clearly bad news for global growth and commodities more broadly, as China continues to struggle to maintain momentum. Indeed, it added, if the rest of the August numbers point to similar weakness, another round of easing measure will likely be coming shortly. According to BMO, it could even come ahead of the August data if officials are sufficiently concerned. Lower interest rates or reserve requirements are likely just a matter of time for China.
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