Economy

Reuters exclusively reports China’s support for economy won’t go as far as Fed

Reuters exclusively reports China’s support for economy won’t go as far as Fed

Reuters exclusively reported that China’s central bank will ramp up its policy easing to support the coronavirus-ravaged economy but debt worries and property risks will prevent it from following the U.S. Federal Reserve’s steep rate cuts or quantitative easing moves. The People’s Bank of China (PBOC) will boost credit and lower funding costs, especially for small firms seen as vital for growth and jobs, and accommodate increased fiscal spending, Reuters sources said.