Skip to main content

China to keep ‘prudent’ monetary policy amid trade war

BEIJING: China’s central bank said on Saturday it will maintain its “prudent and neutral” monetary policy while keeping an ample level of liquidity amid a trade war with the United States.

The yuan’s exchange rate and market expectations remain generally stable, giving the world’s second largest economy a stronger ability to counter external shocks, the People’s Bank of China said after its third-quarter monetary policy committee meeting, according to the official Xinhua news agency.

Amid warnings about China’s massive debt mountain, the bank said it will “guide reasonable growth in credit” and continue to deepen financial reform.

China has been locked in an intensifying trade conflict with the US, which unleashed a new wave of tariffs on $200 billion in Chinese goods on Monday, with Beijing targeting $60bn in American products in response.

Premier Li Keqiang acknowledged last week that China is facing “greater difficulties” in maintaining steady growth in the face of the US onslaught, but he voiced confidence in its ability to “overcome obstacles”.

Analysts say a sharp depreciation of the yuan has helped China weather the tariffs storm by making its exports cheaper.

 

The post China to keep ‘prudent’ monetary policy amid trade war appeared first on ARYNEWS.

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Police arrest another suspect in Rimsha Wassan murder case

KHAIRPUR: Police on Tuesday arrested another suspect in Rimsha Wassan murder case during a raid in Khairpur, ARY News reported. Police said suspect Hidayatullah was arrested during the raid and weapons were recovered from his possession. They said the arrested suspect was a close aide of Zulfiqar Wassan, Sabir Wassan and Abdul Ghaffar. “The suspect will be produced before the Anti-Terrorism Court for remand,” said police. On March 19, an anti-terrorism court (ATC) had extended the remand of three suspects in Rimsha murder case for three more days for further investigations. Hearing the Rimsha murder case, the court, on the request of police, had decided to extend the physical remand of the suspects for three more days. Read More:  ATC extends suspects’ remand in Rimsha murder case According to the details, police had produced the prime suspect, Zulfiqar Wassan alias Zulfoo , his associates nominated in the case, Ghaffar Wassan and Sabir Wassan before the court amid strict se...
Post a Comment
Read more

Sajal Aly, Ahad Raza Mir are already sending out wedding invites

Pakistan’s hot favourite celebrity couple Sajal Aly and Ahad Raza Mir are all set to tie the knot soon.  The pair has already started sending out wedding invitations to friends and family as fans eagerly wait for one of the biggest celebrity weddings of the year. The actors invited British Deputy High Commissioner, Mike Nithavrianakis, to their big day, who took to Twitter to share that it was wonderful meeting them. Thank you! Hope to see you at the wedding @MikeNith1 https://t.co/YtOOYBJuhq — Sajal Ali (@Iamsajalali) February 28, 2020 “They’ve been ‘married’ on-screen several times. Now for the real deal. Best wishes to them both,” he wrote. The Mom actress thanked him and said “Hope to see you at the wedding.” Earlier, a photo of a cake which had ‘Ahad aur Sajal ki dholki’ written over it went viral. The lovebirds got engaged in July last year after dating for a while. The post Sajal Aly, Ahad Raza Mir are already sending out wedding invites appeared first on...
Post a Comment
Read more

India’s coronavirus cases rise by a daily record of 55,078

BENGALURU: India reported another record surge in daily COVID-19 cases on Friday, taking the total to 1.64 million, as the government further eases virus curbs in a bid to resuscitate the economy, while also trying to increase testing. Infections jumped by 55,078 in the past 24 hours, while the death toll rose by 779 to 35,747, the Ministry of Health and Family Welfare said on its website. The ministry also said it aimed to raise the country’s capacity to 1 million coronavirus tests per day in the medium term, from a record 600,000 on Friday. The federal government this week announced the reopening of yoga institutes and gymnasiums, and removed restrictions on the movement of people and goods. The post India’s coronavirus cases rise by a daily record of 55,078 appeared first on ARY NEWS .
Post a Comment
Read more