Reported 15 days ago
China is intensifying efforts to revive its economy as the People's Bank of China (PBOC) cuts a key short-term interest rate and announces an upcoming briefing by top financial regulators. Central bank governor Pan Gongsheng will discuss financial support for economic growth, amid concerns that the country may miss its annual growth target of around 5%. Traders anticipate more stimulus following disappointing economic data, indicated by falling bond yields and a rising stock market. Economists emphasize the need for broader relief measures to spur consumer spending and confidence.
Source: YAHOO