We don't think there is anything to warrant a rate move from the central bank. Even though building approvals rose in November, housing is still in correction mode.

The Reserve Bank has no need to tighten or to ease rates.

The central bank could scrap the way it automatically determines the closing rate of the yuan and determine it on its own.

The dynamic of the move in stocks is you have an extremely bombed-out market coupled with a central bank that has taken a slightly more adventurous approach to monetary policy, ... But in overall macro terms, the place is still a complete and utter economic disaster.

The dynamic of the move in stocks is you have an extremely bombed-out market coupled with a central bank that has taken a slightly more adventurous approach to monetary policy. But in overall macro terms, the place is still a complete and utter economic disaster.

Employment is likely to be much weaker going forward and the jobless rate will keep rising as the economy cools. Interest rates are on hold.