Market analysts react to surprise rate cut in China

People wearing face masks walk past the headquarters of PBOC, where the Chinese national flag flies at half mast

"I would think it helps on the margin. But after all, you still have a very subdued growth momentum.""The risk of another slowdown in China's economic growth is on the rise. China's GDP growth slowed in the second quarter ... and a cut in the policy rate could reduce the cost of financing and release liquidity to maintain the momentum of the economic recovery. A large amount of MLF loans are coming due, and it could be another reason explaining the MLF operation.

"Issues facing the property sector the lack of confidence that is holding back consumer spending ... need more concrete fiscal support or other type of policy measures to address."The global equity sell-off looks set to extend into Europe on Thursday although the region may be spared the carnage in parts of Asia, where Japan's Nikkei tumbled as much as 3% and Hong Kong's Hang Seng slumped close to 2%.

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