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World Bank slashes China growth forecasts on Covid woes, property crisis
World Bank slashes China growth forecasts on Covid woes, property crisis
by  AFP

The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world's second largest economy. "Economic activity in China continues to track the ups and downs of the pandemic -- outbreaks and growth slowdowns have been followed by uneven recoveries," the World Bank said.

World Bank slashes China growth forecasts
World Bank slashes China growth forecasts
by  AFP

The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world's second largest economy. "Economic activity in China continues to track the ups and downs of the pandemic -- outbreaks and growth slowdowns have been followed by uneven recoveries," the World Bank said in a press release.

Japan central bank tweaks monetary policy, yen strengthens
Japan central bank tweaks monetary policy, yen strengthens
by  AFP

Japan's central bank tweaked its longstanding monetary easing programme on Tuesday, in a surprise move that saw the yen strengthen quickly against the dollar while Tokyo stock markets fell. The move saw the yen strengthen rapidly against the dollar, with the greenback falling from a daily high of 137 yen to 133 within minutes of the decision.

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