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China’s economy set to receive ‘necessary support’ for coronavirus recovery this year, central bank says

Summary:
[unable to retrieve full-text content]China’s central bank on Friday played down the urgency of an immediate change in key interest rates and vowed to maintain necessary monetary support for economic recovery from the pandemic, amid growing expectations it will gradually tighten credit conditions this year.Officials at the People’s Bank of China (PBOC) were also calm about the rapid appreciation in the yuan’s exchange rate and recent fluctuations, although they said a strong Chinese currency was unfavourable for exports and could…

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[unable to retrieve full-text content]
China’s central bank on Friday played down the urgency of an immediate change in key interest rates and vowed to maintain necessary monetary support for economic recovery from the pandemic, amid growing expectations it will gradually tighten credit conditions this year.Officials at the People’s Bank of China (PBOC) were also calm about the rapid appreciation in the yuan’s exchange rate and recent fluctuations, although they said a strong Chinese currency was unfavourable for exports and could…

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