Economics
PBOC Pumps $79 Billion to Banks for Virus-Weakened Economy
- China has refrained from big-ticket stimulus for now
- Data due Monday likely show economy contracted in Jan.-Feb.
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The People’s Bank of China cut the amount of cash that banks have to set aside as reserves, injecting funds into the world’s second-largest economy at a time when global policy makers are racing to head off the negative impact of the coronavirus outbreak.