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China’s first benchmark rate cut in 20 months signals ‘serious easing cycle is unfolding’

The first cut to China’s one-year market benchmark rate in 20 months indicates the government’s determination to stabilise economic growth next year, but economists are still divided on how effective such easing measures will be as major Western countries tighten monetary policy.Some analysts have called on Beijing to loosen purse strings further to finance infrastructure projects, as the country may have to defend a growth rate of 5 per cent in 2022.The People’s Bank of China (PBOC) on Monday…

Read the original article at South China Morning Post

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