International Monetary Fund (IMF) chief economist Gita Gopinath (second right) did not repeat the a recent evaluation that the weaker yuan exchange rate remained in line with China’s economic fundamentals, in contrast to the US assessment. Photo: Xinhua

China, US urged to ease trade war tensions that are ‘weighing on’ global commerce, says IMF chief economist

  • Gita Gopinath, the International Monetary Fund’s (IMF) chief economist, said in Beijing on Friday that ‘there has been weakness in trade across the board’
  • The IMF has already revised down China’s 2019 growth projection by 0.1 percentage points to 6.2 per cent and global growth by 0.1 percentage points to 3.2 per cent
Topic |   China economy

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International Monetary Fund (IMF) chief economist Gita Gopinath (second right) did not repeat the a recent evaluation that the weaker yuan exchange rate remained in line with China’s economic fundamentals, in contrast to the US assessment. Photo: Xinhua
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The required reserve ratio cut by the People’s Bank of China will boost bank’s lending capacity and more importantly lower their cost of capital received from the central bank. Photo: Reuters

China cuts banks’ reserve requirements in latest effort to boost economy amid US trade war

  • People’s Bank of China cuts reserve requirement for all banks by 0.50 percentage point effective from September 16
  • It also cuts reserve requirements for certain urban banks by another full percentage point, with half effective on October 15 and the rest a month later
Topic |   China economy

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The required reserve ratio cut by the People’s Bank of China will boost bank’s lending capacity and more importantly lower their cost of capital received from the central bank. Photo: Reuters
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