RATE Group | China Injects Billions as Economy Slows, Will Investors Turn to Bitcoin?
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China Injects Billions as Economy Slows, Will Investors Turn to Bitcoin?

16 Oct China Injects Billions as Economy Slows, Will Investors Turn to Bitcoin?

Posted at 09:34h in Bitcoin News by

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America is not the only country manipulating its money in order to prop up a flagging economy. Today China unexpectedly injected billions in cash to prevent a fall in interest rates as the economy flounders following months of trading tensions. Savvy investors turned to Bitcoin before, will they do it again?

Central Bank Floods Market With Cash

According to Bloomberg the People’s Bank of China injected 200 billion yuan (around $US28 billion) into the financial system today. The move caught markets off guard and the flood of money flowed through the medium-term lending facility which is essentially loans for banks.

The premature cash injection comes amid a prolonged trade dispute with the US and a slowing domestic economy. The report added that data released this week showed China’s factory deflation deepening and a fall in imports and exports last month.

China’s third quarter GDP figures are due for release on Friday and they are expected to show the lowest growth since 1992.

The…

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