China's central bank on Friday cut both Chinese interest rates and banks' reserve requirement ratio. It's an effort to boost China's slowing economy.
The People's Bank of China (PBOC) trimmed its benchmark lending and deposit rate by 0.25% each. They are now at 4.35% and 1.5%, respectively.
China's central bank on Friday cut both Chinese interest rates and banks' reserve requirement ratio. It's an effort to boost China's slowing economy.
The People's Bank of China (PBOC) trimmed its benchmark lending and deposit rate by 0.25% each. They are now at 4.35% and 1.5%, respectively.
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With the Shanghai Composite tumbling 16% this week alone and rattling global markets, readers are asking us, "Will China lower interest rates?" The simple answer is that they already have.
The Shanghai Composite finished in the red today (Wednesday) for the fifth consecutive day. The index was up as much as 4% at one point, but finished the session down 1.3% to 2,927.29.
Here's why another rate cut might have little effect on steadying China's markets...
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