SHANGHAI: China’s surprise interest rate cut is another step toward softening the country’s exchange rate, setting the yuan on course to end the year lower for the first time since its landmark revaluation in 2005.
The People’s Bank of China (PBOC) cut one-year benchmark lending rates on Friday, a move celebrated by Chinese corporates struggling against a toxic combination of high debt load and weak end demand.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
