China's new bank loans are expected to rebound in November from a 22-month ...
BEIJING - China’s new bank loans are expected to rebound in November from a 22-month low the previous month as the central bank lowered some key lending rates and encouraged more credit growth to prop up the slowing economy, a Reuters poll showed.
Though it would mark a strong jump from the previous month, the forecast is roughly in line with the new loan tally in November 2018. To boost bank lending, the People’s Bank of China has pumped out trillions of yuan in liquidity by repeatedly cutting banks’ reserve requirement ratios since early 2018.
China has also trimmed its new loan rate three times since it became the official lending benchmark in August, and analysts expected further modest cuts in coming quarters as economic growth plumbs near 30-year lows. That will give a strong boost to total social financing , China’s broadest measure of credit and liquidity. It is expected to surge to 1.5 trillion yuan from 618.9 billion yuan in October.
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