China’s Central Bank Says In No Rush To Follow Global Easing Trend

www.oann.com | 9/24/2019 | Staff
EGFZE (Posted by) Level 3
BEIJING (Reuters) – China is in no rush to follow other countries in significantly loosening monetary settings but has ample options to help prop up slowing growth, its central bank head said on Tuesday, maintaining its cautious approach to stimulating the economy.

Despite a slew of growth measures since last year, the world’s second-largest economy has yet to stabilize as the Sino-U.S. trade war shows no sign of ending. Analysts expect growth could cool further this quarter from a near 30-year low of 6.2% hit in April-June.

People - Bank - China - PBOC - Governor

People’s Bank of China (PBOC) governor Yi Gang said macro-economic policies have significant room to move, especially on the fiscal and monetary fronts.

“But we are in no hurry to take measures similar to central banks of other countries…such as interest rate cuts or quantitative easing polices,” Yi said in a briefing ahead of the country’s 70th anniversary.

China - Benchmark - Lending - Rate - Month

China cut its new one-year benchmark lending rate for the second month...
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