China’s central bank has made a move to stimulate the slowing economy.
“China’s central bank is planning to inject up to 200 billion yuan ($US32.8 billion) into about 20 large national and regional banks, according to banking executives briefed on the matter, in another step aimed at spurring the world’s second-largest economy,” the Wall Street Journal reported.
This report comes amid data reflecting slowing growth and falling prices.
“In view of strong growth headwinds, the PBOC is likely to maintain the loosening bias in monetary policy,” Morgan Stanley analysts wrote earlier this week.
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