Pan Gongsheng isn’t famed for acrobatic skills. But on Monday (July 22), the People’s Bank of China governor embarked on a routine that will test his monetary balance, agility and motor coordination in tantalizing ways. The PBOC’s move to cut a key short-term policy rate for the first time in almost a year surprised many traders. […]
China cuts key rate amid worst deflation since ’99
PBOC surprisingly pre-empts US Fed with short-term rate cut that analysts predict won’t likely be the last