PBoC unveils major stimulus package
Central bank cuts key rate and reserve requirements, boosts support for property and stock markets
China’s central bank announced a slew of stimulus measures today (September 24) to boost the country’s flagging economy. These include cutting both a key policy rate and reserve requirements for banks, and bringing in support measures for the property sector and the stock market.
The announcement came after recent data suggested the economy remains bogged down by weak domestic demand and an ongoing downturn in the real estate sector.
The People’s Bank of China (PBoC) governor Pan Gongsheng said
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