China’s central bank has unveiled a broad monetary stimulus package to revive the world’s second-largest economy, underscoring growing concern in Xi Jinping’s government about slowing growth and declining consumer confidence. investors.
The governor of the People’s Bank of China, Pan Gongsheng, cut a key short-term interest rate and announced plans to reduce the amount of money banks must hold in reserve to the lowest level in at least 2018 , during a rare meeting alongside two of the country’s other top financiers. . regulators in Beijing. It was the first time that cuts in both measures were revealed on the same day since 2015.
