Chinese Stocks Jump As Central Bank Unveils Major Stimulus To Spur Economy
Chinese stocks soared on Tuesday following an unexpected and substantial monetary stimulus from the People’s Bank of China (PBoC).
The central bank announced cuts to the reserve requirement ratio (RRR) for banks and the seven-day repo rate, just a day after lowering the 14-day reverse repo rate.
The central bank announced cuts to the reserve requirement ratio (RRR) for banks and the seven-day repo rate, just a day after lowering the 14-day reverse repo rate.
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