China not in rush for economic stimulus

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Industrial output in August grew at the slowest pace in 17 years. FMTNews

BEIJING: China is in “no rush” to add a monetary stimulus to cope with downward pressure on the world’s No 2 economy, the head of the country’s central bank said Tuesday.

But People’s Bank of China boss Yi Gang told a news conference: “We are not in a rush to act as central banks of some other countries have done.” Earlier this month, the PBoC slashed reserve requirement ratios for banks, freeing up about US$126 billion to boost lending to mostly small and medium enterprises.

 

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