Tag: #People’s Bank of China

China’s central bank said on Sunday it would tell banks to lower mortgage rates for existing home loans before Oct. 31, as part of sweeping policies to support the country’s beleaguered property market as the economy slows.

China’s central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch stimulus assault to pull economic growth back towards this year’s roughly 5% target.

China will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio or RRR, by 50 basis points, People’s Bank of China Gov. Pan Gongsheng said during a press conference on Tuesday.

China on Friday kept its main benchmark lending rates unchanged at the monthly fixing.

China’s central bank said it bought special government bonds from primary dealers on Thursday, its first such bond purchase in nearly two years, reviving speculation it is preparing to intervene in the domestic debt market.

American Airlines cut its annual profit forecast on Thursday as uneven demand trends and overcapacity in certain markets dampened the carrier’s pricing power, sending its shares down 8% in premarket trading.

China surprised markets by cutting major short and long-term interest rates on Monday, its first such broad move since August last year, signalling intent to boost growth in the world’s second-largest economy just days after a Communist Party leadership meeting.

Ratings agency Fitch no longer expects China to cut its policy rate this year, and has pushed back its expectations for a reduction to next year as the U.S. Federal Reserve keeps its interest rates high.

China’s lenders cut the country’s benchmark five-year loan prime rate for the first time since June, extending Beijing’s efforts to revive the country’s anemic property market.

China pledged to reduce the amount of liquidity that its banks are required to hold as reserves early next month in a bid to boost its struggling economy.

Moody’s Investors Service has a negative outlook for sovereign creditworthiness in Asia-Pacific this year, due to China’s slower economic growth as well as tight funding and geopolitical risks.

SHANGHAI, Oct 16 (Reuters) – China’s central bank ramped up liquidity support to the banking system as it rolled over medium-term policy loans on Monday, but kept the interest rate unchanged amid concerns about the risk of more sharp yuan declines.

China’s central bank said on Thursday it would cut the amount of cash that banks must hold as reserves for the second time this year to help keep liquidity ample and support a nascent economic recovery.

The People’s Bank of China indicated that it’s serious about getting the world’s second-biggest economy back on track.

China’s central bank surprised most economists and market participants by cutting a short-term policy interest rate, a sign that officials are increasingly concerned about faltering growth and are stepping up stimulus to boost the recovery.