Central Bank of China Pumps 300 Billion Yuan Into Financial System, Cuts Loan Rates

February 18, 2020 | By | Reply | 25 Readers More


Central Bank of China Pumps 300 Billion Yuan Into Financial System, Cuts Loan Rates

The Chinese government has taken multiple steps so far to contain the economic fallout from the coronavirus epidemic, including interest rate cuts and financial injections worth billions of yuan. It did it again this week, extending the monetary easing provided by the central bank. With the budget under pressure, however, there are indications that Beijing may opt for some austerity measures later this year rather than a larger fiscal stimulus.

Also read: China Is Scrubbing Cash Notes to Stop Virus Spreading so Its Government Paper Money Won’t Kill You

PBOC Cuts Interest Rates on Loans for Lenders

The People’s Bank of China (PBOC) injected 200 billion yuan (almost $29 billion) into the country’s banking system which has been experiencing liquidity issues over the past year. On Monday, the funds were offered as one-year medium-term loans for Chinese…

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