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China Lowers Key Interest Rates Amid Economic Struggles
435 sats \ 4 comments \ @TomK 22 Jul econ
China’s economic landscape is shifting, and actions speak louder than words. Despite previous claims of consistent growth, the reality is starkly different. The collapse of the property sector, coupled with demographic challenges, has significantly slowed the country's economic momentum. In response, the People’s Bank of China (PBoC) has made an unexpected move by reducing key interest rates to stimulate the economy.
The PBoC has cut the one-year Loan Prime Rate (LPR) to 3.35% and the five-year LPR to 3.85%, both by 10 basis points. Additionally, the rate for seven-day reverse repo operations has been lowered from 1.8% to 1.7%. These measures aim to provide greater financial support to the real economy.
This decision follows underwhelming economic growth in the second quarter and mixed economic indicators in June, highlighting ongoing economic weaknesses. Analysts anticipated action from the PBoC but were uncertain about the specific measures.
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45 sats \ 0 replies \ @BigB 22 Jul
I would guess this cut was already perceived by the market so will have limited effects
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45 sats \ 0 replies \ @Coinsreporter 22 Jul
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They don't have too much! They are conservative country without having any fun! A single party ruling, can't believe it!
Look at other countries which have democratic ideals. I'm not supporter of any form of government but Democracy at least brings out the best outcome! Chinese communism will be the reason of their fall!
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0 sats \ 0 replies \ @BitcoinAbhi 22 Jul
China's economic crisis is a self made ailment! It was all good while Alibaba was doing great business worldwide. Getting too much inflows of money inside China. But suddenly and abruptly Alibaba and Jack Ma have become irrelevant to the world!
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0 sats \ 0 replies \ @IamSINGLE 22 Jul
Beijing is silent and this sends a message to China’s citizens that they are on their own in an anemic economy. All they got is a vague promise by this cut in interest rates!
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