News Snapshot:
50-yuan notes with a money-counting machine at a bank counter in Hangzhou in China's eastern Zhejiang province. STR/AFP via Getty Images China’s central bank may be shifting its focus from inflation to a slowing economy. The People’s Bank of China on Friday trimmed the amount of money banks need to set aside by 0.5 percentage points as a way to lower bank lending rates. Though not a major change in policy, it is worth noting as China’s central bank had stepped off the stimulus accelerator well before other central banks and the cut in reserve requirement ratios marked the first...
