{"id":48594,"date":"2023-08-15T08:51:02","date_gmt":"2023-08-15T12:51:02","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/china-cuts-key-rates-as-economy-sours-thats-its-least-concerning-move\/"},"modified":"2023-08-15T08:51:04","modified_gmt":"2023-08-15T12:51:04","slug":"china-cuts-key-rates-as-economy-sours-thats-its-least-concerning-move","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=48594","title":{"rendered":"China Cuts Key Rates as Economy Sours. That&#8217;s Its Least Concerning Move."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000719994\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>China\u2019s central bank lowered interest rates on Tuesday after fresh data showed consumer spending and factory output weakening.<\/p>\n<p>It\u2019s the latest effort to nudge the world\u2019s second biggest economy toward growth amid a disappointing rebound from Covid-19-era lockdowns. Officials from the government and central bank are resorting to increasingly desperate measures to revive confidence as the bad news piles up.\u00a0<\/p>\n<div class=\"paywall\">\n<p>In a move that is perhaps more worrying than the poor data itself, the National Bureau of Statistics also announced it would stop reporting youth unemployment figures after they rose every month this year to exceed 20%. It halted the release of a consumer confidence report earlier this year.<\/p>\n<p>Besides the pandemic lockdowns that lasted until late 2022, China is coping with a property bubble that\u2019s deflating. Real estate developer<br \/>\n        Country Garden Holdings<br \/>\n       (2007.HK) suspended payments on some of its bonds. Authorities are reluctant to go big on new stimulus measures for fear of reigniting a speculative frenzy.<\/p>\n<p>China\u2019s central bank cut a key interest rate on one-year loans on Tuesday, as well as one for one-week borrowing, after a report last week showing the inflation rate turned negative in July.\u00a0<\/p>\n<p>Other data on Tuesday revealed retail sales and industrial production rose less than expected in July.<\/p>\n<p>The latest measures to get China\u2019s economy back on track are unlikely to be the last. The stakes for the government are high as it looks set to miss its 5% target for economic growth this year, which was already the lowest goal in years.<\/p>\n<p>Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/china-rate-cut-economy-unemployement-be6ba627?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China\u2019s central bank lowered interest rates on Tuesday after fresh data showed consumer spending and factory output weakening. It\u2019s the latest effort to nudge the world\u2019s second biggest economy toward growth amid a disappointing rebound from Covid-19-era lockdowns. Officials from the government and central bank are resorting to increasingly desperate measures to revive confidence as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":48595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-48594","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China Cuts Key Rates as Economy Sours. That&#039;s Its Least Concerning Move. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"China\u2019s central bank lowered interest rates on Tuesday after fresh data showed consumer spending and factory output weakening. 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