China injects record $112bn cash to revive economic growth
Image Credit: business standard
The People's Bank of China (PBOC) has pumped a staggering 1.45 trillion yuan (Rs. 120.8 lakh crore) into the economy via its medium-term lending facility. This was done to bolster China's economy facing a housing slump and weak demand. Becky Liu, Managing Director at Standard Chartered, remarked, "MLF injection is much larger than expected, so it suggests continued easy monetary policy." He also added that this implies China won't be cutting the reserve-requirement ratio for banks in the near future.