| Journal Call no. | AP8.W56 |
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| Author | Li, Eddy Sau Hung. |
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| Article Title | China slashes rates / Eddy Li Sau Hung. |
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| Is Part Of | Window ; v.5, no.38, 4 Oct 1996, p.18, illus. |
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| Abstract | On 23 August 1996, the People's Bank of China sharply reduced its deposit rate by an average 1.5 per cent. The lending rate was also slashed. The cut was well beyond expectations. The severity of the cuts is due to the central government's policy of "reading the position in one simple step", and trying to directly adjust the rates to a target. In this article, the author comments on the effects of the cut on the economy. |
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