Central Bank of China: Billion-dollar cash injection for banks

The Chinese Central Bank has provided the banks of the people's Republic on Monday with plenty of fresh money. As the People's Bank of China announced in Beij

Central Bank of China: Billion-dollar cash injection for banks

The Chinese Central Bank has provided the banks of the people's Republic on Monday with plenty of fresh money. As the People's Bank of China announced in Beijing, will receive the banks to provide liquidity in the volume of 700 billion Yuan (about 85 billion euros). The money will be enough over the medium-term line of credit, one of the main instruments of the Central Bank, for a year. The interest rate is 2.95 percent.

The cash injection had already been on Friday announced and is to keep, among other things, the provision of credit to the economy Running. The Central Bank is continuing at a moderate price: Although it has eased its monetary policy in the Corona-crisis times. Strong interest rate cuts has not made so far. Experts see this as proof that the Central bankers want to prevent a sharply rising debt.

Updated Date: 17 August 2020, 08:20

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