Mexican Media Brands
China Cuts Interest Rates Again
On Sunday China's central bank lowered its main interest rates for the fourth time in seven months to help stimulate economic growth.
#economics
Share
On Sunday China's central bank lowered its main interest rates for the fourth time in seven months to help stimulate economic growth.
The People's Bank of China dropped the rate on one-year loans for commercial banks by 0.25 points to 4.85%. The bank also cut its interest rate on one-year deposits by 0.25% to 2%.
In addition, the central bank lowered the reserve ratio 50 points for banks that make loans to small businesses and farmers. The latter measure will "improve the key areas and weak links" in China's economy, notably by supporting non-state-owned businesses, according to the bank.
China's economic growth rate has eased to its slowest pace since the global economy crisis in 2008. Over the past two weeks the country's stock market, which had been performing very strongly, plunged 20%.
New-car sales were up 11% in January-May, but growth slowed to 1% last month, according to the China Passenger Car Assn.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.