Tuesday’s surprise People’s Bank of China (PBOC) interest rate cut signaled the depths of Beijing’s concerns about the slowdown in Asia’s biggest economy. Governor Yi Gang’s team lowered its seven-day reverse repurchase rate by 10 basis points to 1.9%, the first such move since August 2022. The swift reaction in global markets is a reminder that […]
China’s surprise rate cut may be just the beginning
PBOC easing signals Beijing’s concern about a faltering economic recovery that will take more than a liquidity infusion to revive