China’s Central Bank Unveils Tool Aimed at Lending to Small Firms
China’s central bank unveiled a new policy tool Wednesday to support lending to small and private businesses, a measure some analysts read as a targeted rate cut.
The People’s Bank of China disclosed the new tool, called the targeted medium-term lending facility (TMLF), in advance of the U.S. Federal Reserve’s widely expected quarter-point rate increase Wednesday, the fourth rise this year. The two countries locked in a trade war moved further in opposite directions on monetary policy.
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