China’s central bank has moved to inject more cash into the banking system by cutting reserve requirement ratios for most commercial banks, freeing up Rmb750bn ($109bn) of capital as it seeks to assuage concerns about slowing economic growth.
The easing measure follows weak investment and manufacturing data, and comes as a deepening trade war with the US increases pressure on growth in the world’s second-largest economy.
Christine Lagarde, managing director of the IMF, warned last week that the global economic outlook was turning for the worse, as she called on countries to resolve their trade disputes to counter any slowdown.
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