Holiday briefing: Car crash in China?

Here's our summary of key economic events over the weekend that affect New Zealand, with news a coming car crash may be a literal one. First up today in China, their March car sales were strong. But they may have been at the expense of future sales because car makers are offering deep discounts to buyers. And Americans don't seem to be taking out car loans any faster, despite the uptick in sales locally. In India, their central bank kept its policy rate unchanged at 6.5% which was a surprise because a +25 bps rise was expected.