Surprise Rate Cut In China Follows Bad Economic Data

Carlos Casanova, Senior Economist, UBP

Morning Run · Market Watch · 16 Aug 2023 · 07:00 am · 12 mins listen

China, in a surprise move, lowered the rate on its one-year loan by 15 bps, to 2.5%, the largest cut in 3 years. What forced the hands of the new governor of the People's Bank Of China, Pan Gongsheng? Carlos Casanova, Senior Economist at UBP tell us.

Image Credit: Shutterstock

Produced by:

Mike Gong

Presented by:

Wong Shou Ning,Philip See,Mark Tan

Categories:

markets,economy

Tags:

chinese market,the people's bank of china,country garden

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