Arab Today, arab today china cuts interest rates for second time in 3 months
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

China cuts interest rates for second time in 3 months

Arab Today, arab today

Arab Today, arab today China cuts interest rates for second time in 3 months

China's vast manufacturing sector has been responsible for the country's economic boom
Beijing - QNA

China's central bank cut benchmark interest rates for the second time in three months as disinflation gives room to step up support for the nation's slowing economy.
The one-year deposit rate will be lowered by 25 basis points to 2.5% and the one-year lending rate will also drop by a quarter percentage point to 5.35% on March 1, the Beijing-based People's Bank of China said on its website late Saturday.
The move reflects deepening concern over an economy squeezed by a property slump, tighter controls over local government debt and rising capital outflows. By adding rate cuts to a reduction in the cash banks must set aside as reserves, the PBOC is intensifying its easing measures along with more than a dozen global counterparts this year as plunging commodity prices provide scope to support growth, according to (Xinhua) news agency.
"A rate cut was urgently needed," said Wang Tao, the chief China economist at UBS Group AG in Hong Kong, who predicted one or two more reductions this year. "The debt burden is heavy, and the PBOC has to act to keep the financial market stable." The PBOC also increased the deposit-rate ceiling to 1.3 times from 1.2, meaning banks can pay a larger margin over the benchmark. That eases the financial repression that has seen China's savers effectively subsidize debt-funded investment.
The monetary authority lowered interest rates for the first time in two years in November.

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 cuts interest rates for second time in 3 months Arab Today, arab today china cuts interest rates for second time in 3 months

 



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 cuts interest rates for second time in 3 months Arab Today, arab today china cuts interest rates for second time in 3 months

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: اقتصاد دولي
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