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Chinese central bank shocks with rate cut amid continuing growth concerns

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 23, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    Global Market The People’s Bank of China shocked the markets in Friday’s trading session as it cut its one-year deposit rate and one-year lending rate by 25 basis points each to 1.5% and 4.35%, respectively. This move not only further fuels the mounting concerns about the economic deceleration in the world’s second largest economy but raises questions about its Q3 GDP of 6.9%, and shows how the PBoC is willing to do all it can to ensure that the 7% end of year growth target is reached.

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