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China bank lending in Sept hits US$140b

But more monetary easing is needed to bolster weakening economy, say analysts

Published Thu, Oct 16, 2014 · 09:50 PM
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Shanghai

CHINA'S banks stepped up their lending in September, the central bank announced on Thursday, but analysts said more monetary easing was needed to bolster the weakening economy.

Domestic banks extended US$139.9 billion in new loans, the People's Bank of China (PBOC) said in a statement, up more than a fifth from the 702.5 billion yuan (S$146.3 billion) lent in August.

The September figure also beat a median forecast of 745 billion yuan from a Wall Street Journal poll of 15 economists.

Analysts attributed the rebound in new lending to China's "targeted" easing introduced earlier this year, which included cuts in reserve requirements for some …

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