China follows ECB's lead with stimulus

Source: Bloomberg
© Scanpix/Reuters
The People's Bank of China, China's central bank, decided to add to liquidity in midst of the dormant growth by flooding 500 billion yuan, or $81 billion into the largest banks of the country. The central bank is concerned with the timid growth, thus enacting a quantitative-easing- like policy. The money is to be divided amongst the five biggest banks, with cash injections transferred in the next three months.
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