China Central Bank to Support Economy
BEIJING (Reuters) - China’s central bank will ratchet up support for the economy by improving its policy transmission mechanism, governor Yi Gang said in remarks published on Wednesday.
Policymakers have pledged to step up support this year, following a raft of measures in 2018 including fast tracking infrastructure projects and cuts in banks’ reserve requirements and taxes, amid a trade dispute with the United States.
Data later this month is expected to show China growth slowed to around 6.6 percent in 2018 from 6.9 percent the previous year. Analysts are forecasting a further loss of momentum in coming months before policy support measures begin to kick in.
Policymakers have pledged to step up support this year, following a raft of measures in 2018 including fast tracking infrastructure projects and cuts in banks’ reserve requirements and taxes, amid a trade dispute with the United States.
Data later this month is expected to show China growth slowed to around 6.6 percent in 2018 from 6.9 percent the previous year. Analysts are forecasting a further loss of momentum in coming months before policy support measures begin to kick in.