China's central bank will step up support for the economy to cushion the bl...
BEIJING - China’s central bank will step up support for the economy to cushion the blow from a coronavirus outbreak, but activity is expected to recover once the virus is brought under control, one of its deputy governors said on Friday.
“In terms of monetary policy, the next step is to strengthen counter-cyclical adjustments, maintain reasonable and ample liquidity and provide a sound monetary and financial environment for the real economy,” Pan said. Still, the death toll from the epidemic rose to 636 as of the end of Thursday, with 31,161 people confirmed to be infected.
Pan reiterated that China has sufficient policy tools to cope with the pressure, and noted it has more room to support growth than other major economies.
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