BEIJING, Sept 29 (Reuters): China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing ramps up stimulus to pull economic growth back towards this year's roughly 5 per cent target and fight deflationary pressures.
More fiscal measures are expected to be announced before China's week-long holidays starting on Oct 1, after a meeting of the Communist Party's top leaders showed an increased sense of urgency about mounting economic headwinds.
On the heels of the Politburo huddle, China plans to issue special sovereign bonds worth about 2 trillion yuan ($284.43 billion) this year as part of fresh fiscal stimulus, two sources with knowledge of the matter have told Reuters.
"We believe the persistent growth weakness has hit policymakers' pain threshold, and the policy put has been triggered," Goldman Sachs analysts said in a note.
China cuts rates, injects liquidity
FE Team | Published: September 29, 2024 23:34:56
China cuts rates, injects liquidity
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