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China has more cuts to go if it's to deal with financial outflows

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When China's central bank frees up around US$100 billion of lending power, as it did on Feb 4, it's a statement. Indicators like a weakening yuan, rising foreign-currency debt and capital outflows, suggest it's a defensive one - and not enough.

WHEN China's central bank frees up around US$100 billion of lending power, as it did on Feb 4, it's a statement. Indicators like a weakening yuan, rising foreign-currency debt and capital outflows, suggest it's a defensive one - and not enough.

Banks can now lend out an extra 0.5

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