China's central bank pledges timely policy adjustment as growth slows
China's central bank pledged to make timely adjustments to its policy tools after second-quarter economic growth slowed to its weakest pace in more than three years. Data released in July underscored the extent of the slowdown.
China's central bank said it would make timely adjustments to its policy tools as needed after the country's economy slowed to its weakest quarterly growth pace in more than three years. The bank stressed that supporting economic stability remains a priority.
Official data released in July showed annual growth had slipped to 4.3%, a figure that underscored weakening domestic demand and lingering uncertainty in foreign trade.
Economists expect the central bank could take further steps, such as interest rate cuts or additional liquidity support. Officials, however, said the timing of any such move would depend on incoming economic data.
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