China cuts a key policy rate for first time in 10 months as economic rebound cools
It means that China government is starting to inject fund into the cooling economy also known as money printing. This is in contrast to US Fed hinting raising interest rate in the next FOMC meeting.
Earlier this week, the central bank cut its seven-day reverse repurchase rate by 10 basis points from 2% to 1.9%, injecting 2 billion Chinese yuan through its seven-day repos. China's largest state-owned commercial banks cut deposit rates last week, according to CNBC checks.
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China's central bank lowered its key medium-term lending rates on Thursday, in a much anticipated move as the economy's post-Covid recovery continues to lose momentum.
The People's Bank of China lowered the rate on 237 billion Chinese yuan ($33 billion) of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis points — from 2.75% to 2.65%.
The People's Bank of China lowered the rate on 237 billion Chinese yuan ($33 billion) of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis points — from 2.75% to 2.65%.
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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deming111 : wah, u sure can talk ah. How is tesla? buy or sell?
102115941 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
ZnWC OP deming111 : Bank interest rate cut usually favour tech stocks because it increases demand.
deming111 : Tech stock now? I scare. Pass. Thanks anyway
Silverbat : USD is awfully strong, pressuring other currencies to reduce key interest, which means higher inflation.
ZnWC OP Silverbat : Higher inflation in US may be. In China, there's the risk of stagnation - people are not motivated to purchase.
Ma cho deming111 : Technology stocks have risen so much now