The People’s Bank of China (PBOC) unexpectedly lowered the rate on its one-year policy loans by the most since April 2020 after cutting a key short-term rate in a sign of greater support for the slowing economy.
Quoteworthy: "I don’t think it’s a good idea to sell Income. It was founded to serve a social purpose and a social need. They remain valid today. I wish to argue that Income and Fairprice should never be sold." –— Tommy Koh, Singapore’s ambassador-at-large
China unexpectedly cuts one-year policy rate by most since 2020
