China has not been in such trouble for decades
There are more and more signs that this year China will not be able to meet the GDP growth rate set for this year by the leadership in Beijing, which has not been seen since 2015 – Portfolio says.
Instead of the originally planned 5.5 percent expansion, it may even happen that the economy grows by only around 3 percent, which may be the lowest growth rate in four decades, if we do not take into account 2020, the first year of the coronavirus epidemic. According to analysts, in order to stimulate the economy, it is mainly to loosen the zero Covid policy that applies strict closures.
On Monday, China’s central bank unexpectedly reduced the interest rate of the lending instrument provided to the banking system in order to stimulate demand for loans and thereby give impetus to the economy, which is suffering from closures caused by the zero Covid policy, and suffering from serious problems in the real estate market. According to the interest rate cut, the interest rate on loans granted to certain financial institutions from the one-year medium-term credit facility (MLF) worth 400 billion yuan ($59.33 billion) was reduced by 10 basis points to 2.75 percent. The interest rate cut for the second time this year regarding the MLF surprised the markets, as a survey of 32 analysts last week unanimously predicted that the central bank would leave the rate level unchanged.
Related news
KPMG surveyed CEOs again this year: Challenges have increased, leaders are more pessimistic than at this time a year ago
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Industrial production is still declining in Hungary, but is already increasing in the EU
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Chinese WeChat Pay and Visit Hungary sign cooperation agreement
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Related news
KPMG surveyed CEOs again this year: Challenges have increased, leaders are more pessimistic than at this time a year ago
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >World Food Day 2025 – FAO turns 80
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Lex trappist – lex cucumber
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >