-
China surprises with rate cuts as economy grapples with ‘confidence crisis’
China’s central bank unexpectedly cut rates on Tuesday, as policymakers continued to ramp up support for its struggling economy. Early Tuesday, the People’s Bank of China trimmed the interest rate on 401 billion yuan ($55.25 billion) worth of one-year medium-term lending facility (MLF) loans from 2.65% to 2.50. It was the second rate cut in three months. The move came just before China posted largely disappointing July data. Industrial output rose by 3.7% in July from a year ago, below the 4.4% increase analysts had expected, while retail sales also rose at a slower pace by 2.5% last month. Then in the late ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Aug 15, 2023 7:24am Aug 15, 2023 7:24am
- Ericedge
- | Joined Oct 2022 | Status: Member | 362 Comments
- Comment #2
- Quote
- Aug 15, 2023 8:11am Aug 15, 2023 8:11am
- Sovy
- Joined Jan 2023 | Status: Member | 142 Comments
Trading is gambling. So gamble responsibly.
- Comment #3
- Quote
- Aug 15, 2023 8:42am Aug 15, 2023 8:42am
- umbrella man
- | Joined Aug 2009 | Status: Member | 553 Comments
- Comment #4
- Quote
- Aug 15, 2023 8:47am Aug 15, 2023 8:47am
- Sovy
- Joined Jan 2023 | Status: Member | 142 Comments
Trading is gambling. So gamble responsibly.