The People’s Bank of China had earlier lowered key policy rates in June. Read more at straitstimes.com.
SHANGHAI - China’s central bank unexpectedly cut key policy rates for the second time in three times on Tuesday, in a fresh sign that the authorities are ramping up monetary easing efforts to boost a sputtering economic recovery.
“All of these add to the urgency that policymakers need to act fast before consumer and business confidence deteriorate sharply,” said Mr Tommy Wu, senior China economist at Commerzbank. In a Reuters poll of 26 market watchers conducted this week, 20 participants, or 77 per cent, predicted that the central bank would leave the MLF rate unchanged. Only six respondents forecast a marginal rate reduction.
The MLF rate serves as a guide to the LPR and markets mostly use the medium-term policy rate as a precursor to any changes to the lending benchmarks. The monthly fixing of the LPR is due next Monday.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China central bank cuts rates for second time in three months to support economySHANGHAI/SINGAPORE : China's central bank unexpectedly cut key policy rates for the second time in three months on Tuesday, in a fresh sign that the authorities are ramping up monetary easing efforts to boost a sputtering economic recovery.The People's Bank of China (PBOC) said it lowered the rate on 401
Read more »
China central bank seen leaving policy loan rate unchanged on TuesdaySHANGHAI/SINGAPORE : China's central bank is expected to keep rates on its medium-term policy loans unchanged on Tuesday, a Reuters survey showed, despite fresh signs the economic recovery is losing momentum.Tumbling credit growth and rising deflation risks in July have called for more monetary easing mea
Read more »
Bank of China starts nationwide move to reduce salary gap among employees, manager levels -sourcesBEIJING : Bank of China Ltd, China's fourth-largest lender by assets, has launched a countrywide exercise to reduce the salary gaps among its employees and mid- and high-level managers in response to Beijing's 'common prosperity' drive, three sources with knowledge of the matter said.President Xi Jinping
Read more »
Asia stocks stall, yuan slips as China cuts ratesSYDNEY : Asian stockmarkets were pinned near one-month lows on Tuesday as China cut short-term loan rates and reverse repo rates, with investors awaiting shopping and industrial output data for more news on the slowing of the world's second-biggest economy.Japan was the major exception to the falls, with
Read more »
Indonesia central bank intervenes in currency markets to prevent volatility - officialJAKARTA : Indonesia's central bank has intervened in the spot foreign exchange and domestic nondeliverable forward markets to prevent high volatility in the rupiah currency, an official said on Monday.The rupiah fell 0.8 per cent to 15,325 a dollar earlier on Monday, the weakest level since March. Edi Sus
Read more »
DBS becomes largest foreign bank in Taiwan after merger with Citi’s consumer banking unitSINGAPORE - DBS Bank became the largest foreign bank by assets in Taiwan on Monday, after it successfully merged over the weekend with Citigroup’s consumer banking business there that came with almost 3,000 staff. Read more at straitstimes.com.
Read more »