English to German Bus/Financial Investment / Securities

Chinese economic recovery so far has been boosted by some broad commitments by the PBoC to use and develop new monetary tools as appropriate. The distinction between monetary and fiscal policy is perhaps even more blurred here than in the developed economies, given the variety of government agencies at work. ***Relending and rediscount rates*** were cut again at the start of July, but the PBoC has started to signal that the peak of stimulus may now have passed.

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