Pboc acts to shore up liquidity
By Bloomberg | China Daily | Updated: 2014-09-18 08:34
Top five Chinese lenders may get $81b infusion from central bank, say sources
The People's Bank of China, the central bank, joined its European counterpart in boosting liquidity to address weakening growth, underscoring a divergence in direction among the world's biggest economies as the US reduces stimulus.
The PBOC is injecting 500 billion yuan ($81 billion) into the nation's largest banks, according to a government official familiar with the matter, signaling the deepest concern yet with an economic slowdown.
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