China's central bank has cut its main interest rate in a bid to boost its economy...
Following huge losses on Monday and continuing falls during Tuesday trading, The People's Bank of China has cut the main interest rate by 0.25 per cent to 4.6 per cent.
It says the reduction is aimed at reducing "the social cost of financing to promote and support the sustainable and healthy developments of the real economy".
FT Beijing bureau chief Jamil Anderlini explains that the lack of a clear strategy from China is what is unsettling markets...
IN: There seemed...
OUT: ...of China.
DUR: 29"
http://www.fsnradionews.com/feeds/0825markets-anderlini-1.mp3
Following huge losses on Monday and continuing falls during Tuesday trading, The People's Bank of China has cut the main interest rate by 0.25 per cent to 4.6 per cent.
It says the reduction is aimed at reducing "the social cost of financing to promote and support the sustainable and healthy developments of the real economy".
FT Beijing bureau chief Jamil Anderlini explains that the lack of a clear strategy from China is what is unsettling markets...
IN: There seemed...
OUT: ...of China.
DUR: 29"
http://www.fsnradionews.com/feeds/0825markets-anderlini-1.mp3