Braking Down The News

Chinese Banks Cut Rates to Spur Economic Growth

Reductions come as China’s economy struggles with property bust and Beijing’s zero-Covid strategy


SINGAPORE—Banks in China cut benchmark interest rates on loans to households and businesses, a small attempt to help revive growth in an economy struggling with a property bust and Beijing’s zero-tolerance to Covid-19.

The People’s Bank of China last week unexpectedly trimmed two of its policy rates in response to slowing growth and feeble demand for credit. Changes to so-called loan prime rates, which are set by a panel of banks and represent the terms offered to the most creditworthy borrowers, usually follow soon after.


Continue Reading…


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More