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
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
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
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