SHANGHAI (BLOOMBERG) - China's cabinet signaled that a reduction in the amount of funds banks have to hold in reserve is on the way while calling for 'faster' lowering of the real borrowing cost for businesses, in a move aimed at funneling credit to the slowing economy.. Read more at straitstimes.com.
SHANGHAI - China's cabinet signaled that a reduction in the amount of funds banks have to hold in reserve is on the way while calling for"faster" lowering of the real borrowing cost for businesses, in a move aimed at funneling credit to the slowing economy.
The government also called for an acceleration of the issuance of so-called special bonds by local governments at the meeting. The bonds are mostly used to pay for infrastructure spending. China Minsheng Banking Corp researcher Wen Bin said he expects an across-the-board cut as well as a targeted cut to banks' reserve ratios as soon as this month, while Australia & New Zealand Banking Group economist Xing Zhaopeng said the move could come as soon as this week.
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