17230
China to Cut Rates Further
World Economy

China to Cut Rates Further

China will cut interest rates this year by the most since the global financial crisis as policy makers prioritize growth amid signs of a further economic slowdown, Bloomberg reported. The People’s Bank of China will reduce the one-year lending rate by another 25 basis points to a record 4.85 percent by year-end, bringing the cumulative cuts in 2015 to 75 basis points. The amount of cash major banks must set aside as reserves will be lowered by 1 percentage point to 17.5 percent, the least since 2010, the Bloomberg survey shows. China has stepped up stimulus this quarter in Asia’s largest economy as disappointing exports and manufacturing threaten the 7 percent annual growth objective. With inflation at half the official target, real interest rates when adjusted for the drop in producer prices have hovered near the highest since 2009, even as the central bank continued to slash borrowing costs and reserve requirements.

 

Short URL : http://goo.gl/lmjEXp

You can also read ...

Apple Begins Selling IPhone XS, XS Max Worldwide
Apple’s newest iPhone XS went on sale worldwide Friday as...
Taiwan Consumers More Upbeat on Economy
Confidence in Taiwan’s economy edged higher in September after...
Lower-income families, already pinching pennies, are most exposed, given the likelihood of tariff-related price increases on everyday items.
China canceled trade talks with the US and will no longer send...
Dairy Exports Hinder US-Canada Deal
One of the last remaining points of contention in the trade...
Turkey, Venezuela Plan to Use Local Currencies
Turkey and Venezuela are eager to use local currencies in...
EU foreign affairs chief Federica Mogherinia (L) and Transport Commissioner Violeta Bulc present the proposal  for an EU strategy for connecting Europe and Asia.
While European Union leaders were in the middle of another...
Japan to Resist New Auto Tariffs
The Japan-US ministerial-level trade talks scheduled on Monday...
Pakistan Seeks  to Increase  Exports to China
In a positive development, an important mission from China is...

Trending

Googleplus