by 10 basis points across the board, as widely expected by markets. While the move is expected to unlock more stimulus in the country, it also highlights a slowing economic rebound in China.
The cut was largely priced in by markets, given that the PBOC had already trimmed short and medium-term rates last week. Chinese stocks had risen in the lead-up to the LPR cut, rebounding from six-month lows over the past week. But the economic outlook for China remains bleak, with a slew of major investment banks cutting their growth forecasts for the year. The recent rate cuts were in part spurred by a slew of weak economic readings for April and May.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Asian stocks pull back ahead of China rate cut, Powell testimony By Investing.com⚠️BREAKING: *ASIAN STOCKS END LOWER TO START THE WEEK AS JAPAN'S NIKKEI PULLS BACK FROM 33-YEAR HIGH 🇯🇵🇦🇺🇨🇳🇭🇰🇰🇷🇮🇩🇮🇳
Källa: Investingcom - 🏆 450. / 53 Läs mer »
Asian stocks pause rally, eyeing China stimulus, Powell testimonyInvestors are looking ahead to China's rate decision and Fed testimony from Jerome Powell.
Källa: Reuters - 🏆 2. / 97 Läs mer »
Asian Stock Market: China fears, downbeat S&P500 Futures prod bulls on Juneteenth holidayAsian Stock Market: China fears, downbeat S&P500 Futures prod bulls on Juneteenth holiday – by anilpanchal7 Asia Equities China RiskAversion CentralBanks
Källa: FXStreetNews - 🏆 14. / 72 Läs mer »
Stocks rally stalls, eyes Powell testimony for rate cluesInvestors are looking ahead to China's rate decision and Fed testimony from Jerome Powell.
Källa: Reuters - 🏆 2. / 97 Läs mer »
Stocks rally stalls, eyes on Powell testimony for US rate cluesInvestors are looking ahead to China's rate decision and Fed testimony from Jerome Powell.
Källa: Reuters - 🏆 2. / 97 Läs mer »