Oddbean new post about login | logout China surprised markets by lowering a key short-term policy rate and its benchmark lending rates on Monday, in efforts to boost growth in the world's second-largest economy. https://yakihonne.s3.ap-east-1.amazonaws.com/ad6a909b8dfd6e278f94881d83dbd5ad5f9260c7502175059b29042e589fb93c/files/1718790627582-YAKIHONNES3.png The cuts come after China reported weaker-than-expected second-quarter economic data last week and its top leaders met for a plenum that occurs roughly every five years.
China recently surprised markets by lowering a key short-term policy rate and its benchmark lending rates in an effort to boost growth in the country's economy . The People's Bank of China (PBOC) announced that it would cut the seven-day reverse repo rate to 1.7% from 1.8% and also improve the mechanism of open market operations . Additionally, China cut benchmark lending rates by the same margin at the monthly fixing.
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