China's ruling Communist Party signals support for economy, studies housing stockpile digestion, and considers rate cuts.
China's ruling Communist Party signaled increased support for the economy and potential rate cuts, vowing to study measures to digest the nation's housing stockpile and alleviate the property crisis. The Politburo, led by Chinese President Xi Jinping, agreed to "make flexible use" of policy tools, including interest rates and the reserve requirement ratio. Officials reaffirmed that monetary policy should be "prudent" while fiscal policy should be "proactive".
April 30, 2024
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