Economics
‘Too Little, Too Late’ China Rate Cut Spurs Call for More Moves
- PBOC-backed newspaper cites analyst saying more action needed
- Analysts see potential RRR trim, rate cut and more relending
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China’s surprise interest-rate cut has done little to allay concern over the property and Covid Zero-led slowdown, with economists and state media calling for additional stimulus.
In a front-page report Tuesday, the central-bank backed Financial News said Beijing should introduce new pro-growth policies at the appropriate time to keep growth within a reasonable range, citing Wen Bin, chief economist at China Minsheng Bank. The Securities Times said in a separate report the People’s Bank of China’s surprise rate cut may be the first in a series of policies to stabilize growth.