The Washington Post on Nostr: China moves to boost ailing economy with property, stimulus measures ========== ...
China moves to boost ailing economy with property, stimulus measures
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China's financial authorities announced a significant stimulus package on September 24, 2024, to boost the economy, which is struggling to rebound from the pandemic. The People's Bank of China cut its benchmark interest rate from 1.7% to 1.5% and reduced reserve requirements for banks, potentially unleashing $142 billion in new lending. The measures aim to support the property market, including lowering existing mortgage rates and reducing down payments for second-time home buyers from 25% to 15%. Analysts predict that China's economic growth will miss the 5% target, with Goldman Sachs and Citigroup projecting 4.7% and Morgan Stanley at 4.6%. The stimulus package is the most significant since the pandemic began, but experts warn it may not be enough without further fiscal support.
#China #Economy #Stimulus #PropertyMarket #InterestRates #Deflation #GrowthTarget #FinancialMeasures #Pboc #RealEstate
https://www.washingtonpost.com/world/2024/09/24/china-economy-stimulus-measures/
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China's financial authorities announced a significant stimulus package on September 24, 2024, to boost the economy, which is struggling to rebound from the pandemic. The People's Bank of China cut its benchmark interest rate from 1.7% to 1.5% and reduced reserve requirements for banks, potentially unleashing $142 billion in new lending. The measures aim to support the property market, including lowering existing mortgage rates and reducing down payments for second-time home buyers from 25% to 15%. Analysts predict that China's economic growth will miss the 5% target, with Goldman Sachs and Citigroup projecting 4.7% and Morgan Stanley at 4.6%. The stimulus package is the most significant since the pandemic began, but experts warn it may not be enough without further fiscal support.
#China #Economy #Stimulus #PropertyMarket #InterestRates #Deflation #GrowthTarget #FinancialMeasures #Pboc #RealEstate
https://www.washingtonpost.com/world/2024/09/24/china-economy-stimulus-measures/