Bloomberg Markets and Finance published this video item, entitled “China Central Bank Unexpectedly Cuts Key Rate to Spur Growth” – below is their description.
The People’s Bank of China unexpectedly cut a key policy interest rate for the first time since January. The central bank lowered the rate on its one-year policy loans by 10 basis points to 2.75%. The seven-day reverse repo rate, also a policy rate, was cut to 2% from 2.1%. The PBOC aims to support an economy struggling to recover from Covid lockdowns and a property downturn. Enda Curran reports on Bloomberg Television.Bloomberg Markets and Finance YouTube Channel
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