The opening act in a year of tighter policy
unveiled a package of emergency measures.
channels ultra-cheap credit to banks.
is already very loose.
’s shaky economic growth.
lest their disgruntled customers pull out their money and stick it under the mattress.
Some say this is because of heightened competition in
has been “effective at ensuring that
seems to be cautiously positive about
Lately, however, the scheme may have run its course.
have drawn heavily on the scheme to fund their lending growth.
have fallen relative to
as a consequence of its withdrawal.
is the opening act in a year of tighter monetary policy.