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China Drops the Rates – Will the Economy Catch the Bounce?
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Subscribe26 SEP 2024 / ECONOMY
The People's Bank of China (PBOC) plans to reduce the amount of cash banks must hold in reserve, thereby allowing for new lending worth about 1 trillion yuan ($142.21 billion). This move is seen as an attempt to stimulate economic growth amid signals of a slowing economy, and comes amid recent U.S. federal rate cuts. PBOC governor Pan Gongsheng hinted at further potential cuts, while there may also be more support provided for the struggling property market. For a more significant economic rebound, analysts suggest an increased fiscal push might be necessary.
Is China's economy slowing down? A recent announcement from the People's Bank of China might suggest so. The central bank has decided to reduce the amount of cash banks are required to hold in reserve, freeing up about 1 trillion yuan ($142.21 billion) fo...
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