China is in no rush to follow other countries in significantly loosening monetar...
BEIJING - China is in no rush to follow other countries in significantly loosening monetary settings but has ample options to help prop up slowing growth, its central bank head said on Tuesday, maintaining its cautious approach to stimulating the economy.
Despite a slew of growth measures since last year, the world’s second-largest economy has yet to stabilize as the Sino-U.S. trade war shows no sign of ending. Analysts expect growth could cool further this quarter from a near 30-year low of 6.2% hit in April-June. “But we are in no hurry to take measures similar to central banks of other countries...such as interest rate cuts or quantitative easing polices,” Yi said in a briefing ahead of the country’s 70th anniversary.
But the move was far smaller than the U.S. Federal Reserve’s and the European Central Bank’s easings of recent weeks.
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