China's central bank unexpectedly cut short-term & benchmark lending rates to boost economic growth.
China's central bank unexpectedly cut its short-term policy rate and benchmark lending rates, aiming to boost growth in the world's second-largest economy. The move follows China's weaker-than-expected second-quarter economic data and a recent plenum meeting of top leaders. The surprise rate cut is expected to revive the slowing economy.
July 22, 2024
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