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China joins ECB in adding stimulus as Fed scales back

'People's Bank of China is injecting $81 bn into the nation's largest banks to boost liquidity'

Bloomberg  |  Beijing 

China's central bank joined its European counterpart in boosting liquidity to address weakening growth, underscoring a divergence in direction among the world's biggest economies as the US reduces stimulus. The People's Bank of China is injecting 500 billion yuan ($81 billion) into the nation's largest banks, according to a government official familiar with the matter, signalling the deepest concern yet with an economic slowdown. China's credit expansion builds on targeted measures to shore up growth while stopping short of broad-based stimulus seen in the US in ...

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First Published: Thu, September 18 2014. 00:14 IST