Arab Today, arab today china\s july new loans at 4926 billion yuan
Last Updated : GMT 04:42:09
Arab Today, arab today
Arab Today, arab today

China\'s July new loans at 492.6 billion yuan

Arab Today, arab today

Arab Today, arab today China\'s July new loans at 492.6 billion yuan

Shanghai - AFP

China said Friday the nation\'s lenders issued a lower-than-expected 492.6 billion yuan ($77 billion) in new loans in July, indicating Beijing\'s efforts to rein in liquidity are taking effect.But the People\'s Bank of China, the central bank, still sounded the alarm on the politically-sensitive inflation figure, which hit a more than three-year high of 6.5 percent in July. July loans were lower than the 633.9 billion extended in June and 25.2 billion yuan less than the same month last year, the bank said in a statement.It was also below forecasts of 555 billion yuan by 11 economists surveyed by Dow Jones Newswires.The broadest measure of money supply, M2, was up 14.7 percent year-on-year at the end of July compared with a 15.9 percent rise at the end of June, the central bank said, in another sign of slowing credit.\"Today\'s data should reassure Beijing that rate hikes and other measures are having the intended effect of tightening credit conditions and reducing upward pressure on inflation,\" said Royal Bank of Canada economist Brian Jackson. Policymakers have been pulling on a variety of levers to rein in bank lending over fears of soaring property prices and inflation, which Beijing worries could trigger social unrest. In its quarterly monetary policy report, also released on Friday, the central bank said it was \"not optimistic\" about the prospect of inflation and stressed stabilising prices remained a top priority. \"The foundation of stabilising prices is not sound and the situation is not optimistic,\" it said. The bank also warned emerging economies like China may face significant captial inflows due to lack of growth momentum in other major global economies. The central bank has hiked interest rates five times since October and increased the amount of money banks must keep in reserve numerous times in the past year as part of its monetary tightening.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china\s july new loans at 4926 billion yuan Arab Today, arab today china\s july new loans at 4926 billion yuan

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china\s july new loans at 4926 billion yuan Arab Today, arab today china\s july new loans at 4926 billion yuan

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday