According to some Chinese policy insiders, the policymakers are prepping up measures to limit the shock of a coronavirus outbreak on first quarter economic growth, per Reuters. Key Quotes: The government is debating whether to lower the planned 2020 economic growth target of around 6 percent, which many private sector economists see as well beyond China’s reach. Currently, monetary policy is being loosened, but the central bank will follow a step-by-step approach and watch the virus situation. We have policy reserves and will step up policy support for the economy. The most urgent task is to put the virus outbreak under control. Support measures will be concentrated on the retail, catering, logistics, transportation and tourism sectors, which are likely to be hit hard and are especially vulnerable to job losses. It’s necessary to step up policy support for the economy but we don’t need to use strong stimulus at this stage. Market Implications: The Chinese central bank (PBOC) has already pumped in a lot of funds in the system over the last two days to calm markets after the country’s stock market crashed 8% amid rising coronavirus death toll and fears over an economic slowdown. These added efforts by the Chinese authorities could likely play a major role in reviving investors’ confidence, as the market mood remains buoyed so far this Tuesday. The US Treasury yields are nearly 4% higher while USD/JPY extends the break above the 109 level. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: All ways lead to red – Elam FX Street 2 years According to some Chinese policy insiders, the policymakers are prepping up measures to limit the shock of a coronavirus outbreak on first quarter economic growth, per Reuters. Key Quotes: The government is debating whether to lower the planned 2020 economic growth target of around 6 percent, which many private sector economists see as well beyond China’s reach. Currently, monetary policy is being loosened, but the central bank will follow a step-by-step approach and watch the virus situation. We have policy reserves and will step up policy support for the economy. The most urgent task is to put the virus outbreak… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.