People's Bank of China Governor Yi Gang spoke at a press conference looking at China's economic development ahead of the 70th anniversary of the founding of the People’s Republic. Photo: Reuters
China in no rush to follow global interest rate cuts, central bank governor says
- People’s Bank of China (PBOC) chief Yi Gang says Chinese economic conditions are in a ‘reasonable range’ meaning there is no need for major interest rate cuts
- The central bank has cut the reserve ratio requirement three times this year but growth has continued to slow
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People's Bank of China Governor Yi Gang spoke at a press conference looking at China's economic development ahead of the 70th anniversary of the founding of the People’s Republic. Photo: Reuters
