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The changing outlook was underscored Friday when the People’s Bank of China cut the amount of cash most banks must hold in reserve in order to boost lending. While the PBOC said the move isn’t a renewed stimulus push, the breadth of the 50 basis-point cut to most banks reserve ratio requirement came as a surprise.Data on Thursday is expected to show growth eased in the second quarter to 8% from the record gain of 18.3% in the first quarter, according to a Bloomberg poll of economists. Key readings of retail sales, industrial production and fixed asset investment are all set to moderate too.
Publishing date: Jul 10, 2021 • 4 hours ago • 5 minute read •
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(Bloomberg) The shifting sands of global inflation will focus central bankers from Ottawa to Wellington in coming days after a month of mounting concern about consumer prices among counterparts including the U.S. Federal Reserve.
The Bank of Canada, which is already in the vanguard of Group of Seven economies dialing back stimulus, will continue that on Wednesday, with officials seen cutting weekly bond purchases by a third. That further step toward normalizing monetary policy could eventually presage interest-rate increases.
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India’s risk-averse lenders are emerging as one of the biggest hurdles to its recovery
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Last Updated: Jul 09, 2021, 08:33 AM IST
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Loans to companies and individuals has been growing at a subdued 5.5%-6% in recent months, which is half the pace seen before the pandemic struck, Reserve Bank of India data shows.
PTI
India’s risk-averse lenders are emerging as one of the biggest hurdles to the speed of the nation’s recovery from the pandemic-induced downturn, as they hold back credit when the economy needs it the most.
Loans to companies and individuals has been growing at a subdued 5.5%-6% in recent months, which is half the pace seen before the pandemic struck, Reserve Bank of India data shows. The nation’s biggest lender
Loan growth shows virus leaving deep scars on India’s economy
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Last Updated: Jul 09, 2021, 08:50 AM IST
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Synopsis
Loans to companies and individuals has been growing at a subdued 5.5%-6% in recent months, which is half the pace seen before the pandemic struck, Reserve Bank of India data shows. The nation’s biggest lender State Bank of India wants to nearly double its credit growth rate to 10% in the year started April 1, but is willing to miss the goal.
And while Covid-19 relief measures may provide banks some reprieve, the need to raise capital will remain high once virus related stress start to emerge on their balance sheets.