China Unexpectedly Cuts Interest Rates to Help Revive GrowthVW Staff
The Chinese central bank, People's Bank of China, decided to cut interest rates unexpectedly on Friday, as the Chinese economy continues to see slower and slower expansion rates. This is the first rate cut in two years, which came just days after Manufacturing PMI came out at 50.0, .01 away from showing that there is a contraction occurring in manufacturing, very bearish for China’s economy.
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