People’s Bank of China governor Pan Gongsheng announced a series of stimulus measures at a rare briefing Tuesday in Beijing.
It included moves to boost banks’ lending to consumers and corporates, and a cut to its key short-term interest rate. China will also lower the mortgage rate for existing housing loans.
https://www.bloomberg.com/news/articles/2024-09-24/china-frees-banks-to-lend-more-cuts-key-interest-rate
Posted by s1n0d3utscht3k
14 Comments
Bullish 
This will cause inflation to uptick for US one of the reasons inflation has gone down is because of weak demand from China.
Nice. And. Sustainable. 👌🏼
Brrrrrr….
I wasn’t a goldbug, but the way central banks are snapping it up, I’m starting to become one. It’s not even a global de-dollarization, it’s becoming a de-fiat-ization, as every developed country on earth simultaneously smashes their currency into the ground.
Gongsheng more like gongshow.
Anti paywall version:
https://archive.ph/GXts4
They copying us. Can we call their guy Jchow?
Good for everyone. China´s lagging economy drags everybody elses. If they are really ready to jumpstart, they could even set up a “friendship” funds, that supports europeans, who buy new EVs like the idea, currently being discussed in germany. Doing so not at home, but overseas would most definitely be unusual, but it would soften the stance on government subsidies and in the end, trade is, where it matters. China´s overproduction needs a stronger european economy to trade with.
Not hat I believe, they would ever do it.
But yes, China needs to get it´s economy going and that will require money, pumped at the right places. Without causing more disruptions overseas of course.
But I was told that xi did not give a shit about fake growth and would rather rip off the bandaid
I’m honestly a bit shocked because economists have been telling them for the past ~1.5 years to do a stimulus… I never thought that they would because of how they’ve been dragging their feet on it. Remains to be seen if this stimulus will even be enough though.
Money printer go brrrrr
Saw the same thing, calls tomorrow baby 😘
My BABA Dec 20 $115 calls like this
wtf is the point of declaring yourself president for life, disappearing all of you would-be political rivals, outlawing dissent, censoring the internet, etc. if you’re going to set arbitrary goals for yourself and then actually bend over backwards trying to reach them rather than just moving the goal posts and declaring victory?