The People's Bank of China is warning of external risks to the economy and that the complexity of the situation shouldn't be underestimated.
Like we don't have enough to worry about already
Bloomberg have more:
- The statement "highlighted the uncertainties in external economies and rising risks in international financial markets," and shows the PBOC remains open to cutting the benchmark interest rate or required reserve ratio for big banks to counter headwinds, Zhao Yang, chief China economist at Nomura Holdings Inc. in Hong Kong, wrote in a report after the release. Zhao forecasts one rate cut and three RRR cuts this year.
