Reported 13 days ago
In a significant move to boost confidence in its struggling economy, China's central bank has slashed the one-year policy loan rate from 2.3% to 2%, marking the largest reduction on record. This 30-basis-point cut is part of a broader stimulus package aimed at preventing deflation and achieving the government's growth target of around 5% for the year. With the yuan strengthening and Chinese stocks gaining, analysts predict further monetary easing measures, including a promised reduction in reverse repurchase note rates.
Source: YAHOO