![]() Only this month, China said it would release a RMB4 trillion stimulus package to lift the economy through more infrastructure development. “It means the government is moving on more fronts to stimulate growth,” Stephen Green, a Shanghai-based economist with Standard Chartered told AFP. The latest interest rate cut is its fourth one since mid-September. The government has been aggressive in implementing measures to buffer its economy from the global financial crisis. One-year lending rates in the country will now be pegged at 5.58 percent and one-year deposit rates at 2.52 percent. This is the country’s deepest rate cut since October 1997. 27 – China’s central bank has announced that one-year lending and deposit rates will be reduced on Thursday by 108 basis points four times the usual margin of 27 basis points. NovemPosted by China Briefing Reading Time: 2 minutes ![]()
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