To a one year lending rate on monday has raised concerns that the world s second biggest economy is weaker than expected. the one year loan prime rate has now been reduced twice this year. and stands at 3.45%, ..down from 3.65% in may. the aim is to nudge businesses and individuals to borrow money. the central bank has traditionally used it as a tool to slow down or boost economic activity. it is known as the triple r and since december, the people s bank of china has produced that twice. combined with additional cuts to the loan prime rates they paint a picture of an economy where retail sales are weakening, inflation is absent and the key property sector remains in a
Programmes including education and health. she will face businessman daniel noboa, a surprise to many that he will go through to a run off vote in october. and one other result from the ecuador elections indigenous leaders and environmental groups have cheered the passing of a nationwide referendum to ban oil drilling in a part of the amazon. the result means the state owned oil company will have to stop its operations in a block of yasuni national park, one of the world s largest biodiversity hotspots. around the world and across the uk, this is bbc news. let s look at some other stories making news. china s central bank has cut one of its key interest rates for the second time in three months, as the world s second largest economy struggles to bounce back from the pandemic. the people s bank of china lowered its one year loan prime rate to 3.45%. the country s post covid recovery has been hit by a property crisis, falling exports, and weak consumer spending. an anti corruption cand
To china now where the authorities are trying to support its struggling economy. the country s central bank has just cut one of its core lending rates, it s so called one year loan prime rate and it s now at a fresh record low of 3.45%. but it s decided to leave its five year rate unchanged at 4.2%. recently we have been talking about a slew of gloomy economic data coming out of china, the world s second biggest economy? joao da silva is following the story from our asia business hub in singapore. investors are underwhelmed by the smooth? investors are underwhelmed by the smooth? they are because it looks like the the smooth? they are because it looks like the central the smooth? they are because it looks like the central bank- the smooth? they are because it looks like the central bank had . looks like the central bank had not gone as space people were expecting. the people s bank of china has cut the one year loan prime rate, the medium term lending benchmark for corporate loan
Has just cut one of its court lending rates. it is a one year loan crime rate and it is now at a fresh record low of 3.45% but it has decided to leave its five year rate unchanged at 4.2%. in recent weeks we have had a slew of economic data which showed growth is slowing in the world s second biggest economy and on sunday the countries of central bank also urged banks to increase lending to companies to boost growth. daniel murray from private bank efgam told me what he makes of china s current economic challenges. it is certainly true that china s economy has reacted more with a windpipe rather than a bang post the covid reopening, and i think one of the challenges the chinese authorities face is in terms of getting into the right policy mix to really kickstart the economy, and when you look at the scale of this thing that is supplied from china in a post covid environment it pales into insignificance relative to the scale of stimulus applied in other countries at similar stages of th
One of its core lending rates, it s so called one year loan prime rate, and it s now at a fresh record low of 3.45%. but the five year lending rate has been left unchanged at 4.2%. there s been a slew of poor economic data in recent weeks, pointing to a slowdown in the world s second biggest economy. over the past 10 years, china has generated a1% of the world s growth almost double the 22% contribution from the us, and dwarfing 9% from the euro area. joining me now is janet mui, head of market analysis at rbc brewin dolphin. worrying times here given the size of china s output, the government was expected to do more. is of china s output, the government was expected to do more.- was expected to do more. is this enou~h? was expected to do more. is this enough? thank was expected to do more. is this enough? thank you was expected to do more. is this enough? thank you for - was expected to do more. is this enough? thank you for having i was expected to do more. is this l enough? th