SHANGHAI/SINGAPORE : China's central bank cut the borrowing cost of its medium-term policy loans for the first time in 10 months on Thursday, in line with expectations, as Beijing ramps up stimulus measures to shore up a shaky economic recovery.The move comes just days after it lowered two key short-term
SHANGHAI/SINGAPORE : China's central bank cut the borrowing cost of its medium-term policy loans for the first time in 10 months on Thursday, in line with expectations, as Beijing ramps up stimulus measures to shore up a shaky economic recovery.
The People's Bank of China said it lowered the rate on 237 billion yuan worth of one-year medium-term lending facility loans to some financial institutions by 10 basis points to 2.65 per cent, from 2.75 per cent previously. "Policy stimulus expectations have jumped, and the market wants to see changes in fiscal and credit policies next," said analysts at BNP Paribas, adding that policy easing can be expected given slowing exports, the struggling property sector and shaky local government finances.
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