2/2, 9:13 AM (Source: TeleTrader)
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China to inject $174B into economy amid coronavirus

The People's Bank of China (PBoC) announced on Sunday that it will pump 1.2 trillion yuan ($173.8 billion) into the economy amid worries the outbreak of the coronavirus will affect growth.

The Chinese central bank noted the sum will be injected on February 3 via reverse repo operations, making the total liquidity in the country's banking system 900 billion yuan higher than in the same period a year ago.

The decision comes as the coronavirus death toll topped 300, including the first fatal case reported outside China, while the number of infected people rose above 14,000.

Breaking the News / NP