China central bank sees limited impact to economy from Covid-19


  • China
  • Wednesday, 19 Feb 2020

LIfe goes on as residents wearing protective facemasks are seen walking along a street in Shanghai on Wednesday (Feb 19). China's central bank said on Wednesday that the impact of the Covid-19 (coronavirus) outbreak on the economy will be limited as the epidemic has not changed the country's economic fundamentals. - AFP

HONG KONG: China's central bank said on Wednesday (Feb 19) the impact of the Covid-19 (coronavirus) outbreak on the economy will be limited as the epidemic has not changed the country's economic fundamentals.

The People's Bank of China (PBOC) said it would help anti-virus efforts by extending credit, including by providing favourable loans or interest rates to companies involved in controlling the epidemic.

In its fourth-quarter monetary policy implementation report, the bank added that it would also would keep the yuan currency stable and maintain its prudent monetary policy to ensure financial stability.

The death toll from the coronavirus in mainland China passed 2,000 on Wednesday, although new cases fell for a second straight day, as authorities tightened containment measures in the worst-hit city of Wuhan.

China's National Health Commission reported 1,749 new cases, the lowest daily rise since Jan. 29, bringing the total number of those infected to over 74,000, with 2,004 deaths.

Hubei reported 1,693 new cases as of Tuesday, down from 1,807 the previous day and the number of deaths rose by 132 to 1,921.

Outside China, five deaths and 827 cases have been reported so far. More than half of those infected were on a cruise ship quarantined off Japan. - Reuters
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China , Central Bank , Covid-19 , Effect , Limited Impact

   

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