Last Friday, December 20, the People’s Bank of China decided to keep its main benchmark lending rates at the same level, as the Asian country is currently facing the challenge of bolstering economic growth while backstopping the weakening yuan.
China’s central bank has unveiled a broad package of monetary stimulus measures designed to revive the world’s second-largest economy, which is currently facing insufficient factors for an upward trajectory that ensures rapid growth.
Last Tuesday, August 27, the Chinese government released a set of guidelines to ensure support for its largest economic zone through multi-level capital markets.
In the space of China’s economic system, which is currently the second largest in the world, an unexpected decision by the financial authorities was recorded in the form of lowering borrowing costs.
The People’s Bank of China has tightened its control over interest rates, deciding to introduce a new mechanism to influence the cost of short-term borrowing.
The People’s Bank of China has decided to leave the key interest rate unchanged.
In China, calls for cutting interest rates are now becoming louder and louder, which are addressed to the central bank of this Asian country.
A sharp contraction in lending in China is forcing the central bank of the Asian country to assist, and from the government’s point of view, it is a source of need to spend more money.
People’s Bank of China Governor Pan Gongsheng said that the country will seek to intensify currency cooperation with other Asian economies to strengthen financial stability in the region.
Positive consumer inflation has been recorded in China for the first time in the last six months.
During January, local financial institutions in China issued a record number of loans to citizens.
The People’s Bank of China announced a deep cut in bank reserves on Wednesday, January 24.
Last month, the People’s Bank of China injected almost $50 billion into policy-oriented lenders.
In China, local financial authorities on Wednesday, December 20, decided to keep benchmark lending rates at a monthly level, which corresponds to preliminary market expectations and is a predictable action that does not go beyond the most likely scenarios.
Pan Gongsheng, governor of the People’s Bank of China, said that at present, high-quality and sustainable growth is the most important for this country in terms of priorities related to the economic system.
Record cash infusion can help rates in China to remain low, motivating lenders to support a higher issuance of government bonds and make more loans to clients.
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