SINGAPORE — China’s central bank cut one key rate while leaving another unchanged, a surprise policy shift economists say will likely help the housing market The country’s rich capital has provided only limited relief to the struggling economy.
The latest in a series of targeted steps by the central bank highlights how policymakers in China are constrained by rising interest rates in the US and Beijing’s zero-tolerance approach to policymaking. with the pandemic. Excessive easing risks capital flight from China in search of better returns, while asset lockdowns are weakening appetite for new loans from businesses and households. .
https://www.wsj.com/articles/chinas-central-bank-makes-unexpected-rate-cut-as-growth-crumbles-11653018753 China’s Central Bank Makes Unexpected Rate Cut as Growth Crumbles