China's central bank unveils most aggressive stimulus since pandemic

Published On Sep 24, 2024, 2:19 AM

China's central bank has introduced its largest economic stimulus since the pandemic, aimed at reviving growth amid economic challenges like deflation and a troubled property market. The People's Bank of China (PBOC) will cut borrowing costs and provide more liquidity to banks. Despite these measures, analysts express skepticism regarding their effectiveness, given weak credit demand. The PBOC also announced support for the property market, aiming to stabilize home prices and household confidence, but doubts remain about their potential impact on consumer behavior.