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- China premier Li Keqiang: we can use interest rates, other policy steps to help economy
China premier Li Keqiang: we can use interest rates, other policy steps to help economy
China can use reserve requirements and interest rates to support economic growth, Premier Li Keqiang said.
Li's comments suggest Beijing is ready to roll out more forceful stimulus measures to ease strains on businesses and consumers. China has so far promised billions of dollars in tax cuts and infrastructure spending, as economic momentum is expected to cool further due to softer domestic demand and the trade war with the United States.
"Of course, we are faced with many uncertain factors this year. We have to prepare more and we have reserved policy room (to address uncertainties). Moreover, we can deploy quantity-based or price-based policy tools such as reserve requirements and interest rates. This is not monetary easing but to more effectively support the real economy." Li told.
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