Tag: china cuts

China's central bank unexpectedly reduced a key interest rate by the most since 2020 to bolster an economy that's facing fresh risks from a worsening property slump. The yuan and bond yields slumped. The People's Bank of China lowered the rate on its one-year loans or medium-term lending facility by 15 basis points (100bps = 1 percentage point) to 2.5% on Tuesday. All but one of the 15 analysts surveyed by Bloomberg had predicted the rate would stay unchanged. The seven-day reverse repurchase rate, a short-term policy rate,...