PBoC cuts rates as Xi warns against ‘rapid tightening’
Quarterly GDP growth hits lowest rate in 18 months as Xi calls for international policy co-operation
China’s central bank cut one of its policy rates today (January 17) as the country’s leader warned against excessive monetary tightening.
The People’s Bank of China announced a 10 bp cut on the interest rate charged on 700 billion yuan ($110 billion) worth of medium term lending facility loans, to 2.85%.Hours after it did so, Communist Party general secretary Xi Jinping gave a speech to the World Economic Forum warning against excessively fast monetary tightening.
Xi’s speech came as China
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