people s bank of china

China’s central bank refrains from gold purchases for a 2nd month

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China’s central bank refrains from gold purchases for a 2nd month

China‘s central bank refrained from gold purchases to its reserves for a second consecutive month in June, official data showed on Sunday. The pause by the People’s Bank of China (PBOC) started in May, when spot gold prices hit a record high. The previous 18 months of consistent buying by the PBOC, along with demand … Read more

China tries to reassure on Evergrande as default fears rise

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China tries to reassure on Evergrande as default fears rise

China’s central bank released extra money for lending Monday as the government tried to reassure the public it can contain the potential fallout if a troubled real estate developer’s $310 billion mountain of debt collapses. The People’s Bank of China said it freed up 1.2 trillion yuan ($190 billion) for banks to lend by reducing … Read more