China's Central Bank Implements Measures to Boost Economy Amid Slowdown
China's central bank, the People's Bank of China (PBOC), has cut its seven-day reverse repo rate by 10 basis points to 1.90% from 2.00%, the first time in 10 months, in a bid to restore market confidence and prop up a stalling post-pandemic recovery in the world's second-largest economy. The move signals possible easing for longer-term rates over the next week and beyond as demand and investor sentiment weaken, adding to the case for urgent policy stimulus to sustain growth.
