China Needs Bolder Stimulus as Economy Struggles, Ad Legend Says [BNN Bloomberg (Canada)]
WPP plc American Depositary Shares (WPP)
US:NYSE Investor Relations:
wpp.com/wpp/investor/financialnews
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Source: BNN Bloomberg
Chinese authorities should take advantage of the Federal Reserve's 50-basis-point cut last week because it gives them “wiggle room” to lower borrowing costs, said Sorrell, who founded ad behemoth WPP Plc and is chairman of S4 Capital Plc. “The thing I'm looking for is for the government to change their stance here and be a bit more expansive,” Sorrell said on Sunday on the sidelines of an international business conference in Shanghai. “Because they do have wiggle room. I'm looking for a bigger step because they do have flexibility on interest rates and lowering them.” Despite a cut in a short-term policy rate on Monday, Chinese officials have broadly refrained from more aggressive monetary stimulus as the nation's financial institutions struggle with record-low profit margins. Pressure is growing on the government to do more to bolster growth following August data that raised doubts on whether China will reach its growth target of around 5% this year. Compounding the economic a
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WPP
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- 8/10/24 - Citigroup Inc.
WPP
Sec Filings
- 9/26/24 - Form 6-K
- 9/24/24 - Form 6-K
- 9/23/24 - Form 6-K
- WPP's page on the SEC website