Central Banks
China Stimulus Hopes Rise as PBOC Cuts Rate, Plans Briefing
- Governor Pan Gongsheng to address press Tuesday morning
- Expectations for easing rise in wake of Federal Reserve’s move
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China announced plans for a rare briefing on the economy by three top financial regulators just as it cut one of its short-term policy rates, fueling speculation officials are preparing to ramp up efforts to revive growth.
Authorities announced Monday that central bank governor Pan Gongsheng will hold a press conference tomorrow on financial support for economic development, alongside two other officials. Minutes later, the People’s Bank of China lowered the 14-day reverse repurchase rate, catching up with reductions initiated in July.