China cuts interest rates for sixth time in a year

[webfact]

China cuts interest rates for sixth time in a year



BEIJING: -- China’s central bank has cut interest rates and lowered the amount of cash banks must hold as reserves, as well as freeing up deposit rates.

Earlier this week the world’s second largest economy reported its slowest quarterly economic growth since the global financial crisis.

The sixth rate cut since last November is an attempt to cushion the slowdown: an easing of monetary policy in the face of deflationary pressures.

The People’s Bank of China (PBOC) said it was in line with the economic situation and would help support the real economy.

It added that low inflation overall allowed some room for the rate cut, and conditions were mature for the removal of a ceiling on deposit rates.

The government remains committed to its growth target of seven percent for 2015.


-- (c) Copyright Euronews 2015-10-24

[ExpatOilWorker]

Cut is from what to what and by how much?

"The People’s Bank of China (PBOC) said it was in line with the economic situation and would help support the real economy.".......as opposed to the fake economy?

[Naam]

Cut is from what to what and by how much?

"The People’s Bank of China (PBOC) said it was in line with the economic situation and would help support the real economy.".......as opposed to the fake economy?

if you, as i did, visited China in 1981, 1989 and 2010 and compare its economy with the economies of your or my country (same period) you'd consider your question not only irrelevant but its insinuation ridiculous. i'd say "the boyz and girlz in China have done extremely well!" with the help of the policies introduced by ol' Deng Xiaoping.

[boomerangutang]

Cut is from what to what and by how much?

"The People’s Bank of China (PBOC) said it was in line with the economic situation and would help support the real economy.".......as opposed to the fake economy?

if you, as i did, visited China in 1981, 1989 and 2010 and compare its economy with the economies of your or my country (same period) you'd consider your question not only irrelevant but its insinuation ridiculous. i'd say "the boyz and girlz in China have done extremely well!" with the help of the policies introduced by ol' Deng Xiaoping.

Some % of the population has 'done extremely well' in terms of amassing money. The majority, however, aren't doing well. Besides being poor, they're compelled to breathe bad air. School kids in Beijing were asked what color the sky is. They all said 'white' or 'gray'. Most little kids in Chinese cities wear glasses because their vision is impaired. Money is not what's most important for a decent life. Most people don't figure that out their entire lives. If you look at statistics of suicide, you'll find that a greater proportion are those who have money.

[ExpatOilWorker]

Cut is from what to what and by how much?

"The People’s Bank of China (PBOC) said it was in line with the economic situation and would help support the real economy.".......as opposed to the fake economy?

if you, as i did, visited China in 1981, 1989 and 2010 and compare its economy with the economies of your or my country (same period) you'd consider your question not only irrelevant but its insinuation ridiculous. i'd say "the boyz and girlz in China have done extremely well!" with the help of the policies introduced by ol' Deng Xiaoping.

I actually lived and worked all over China for a long time and know it very well, but as a visitor you might not have noticed all the smoke and mirrors.

[NCC1701A]

communist kabuki theater.

[elgordo38]

Yes the 6th straight interest rate cut after 5 failures? and the stock markets go wild!!! Draghi says that he will increase QE and broaden its base and the Euro falls and the American stock market goes wild!!! Companies keep fudging their bottom lines while actual revenues keep dropping and the stock market goes wild!!! Seems that the market was clutching at straws back in 2008 when the manure hit the fan. Buyers of stock beware when the music stops the big boys will have cashed out their profits long before hand. Like 2008 you will be left holding an empty bag again.

[Naam]

Cut is from what to what and by how much?

"The People’s Bank of China (PBOC) said it was in line with the economic situation and would help support the real economy.".......as opposed to the fake economy?

if you, as i did, visited China in 1981, 1989 and 2010 and compare its economy with the economies of your or my country (same period) you'd consider your question not only irrelevant but its insinuation ridiculous. i'd say "the boyz and girlz in China have done extremely well!" with the help of the policies introduced by ol' Deng Xiaoping.

Some % of the population has 'done extremely well' in terms of amassing money. The majority, however, aren't doing well. Besides being poor, they're compelled to breathe bad air. School kids in Beijing were asked what color the sky is. They all said 'white' or 'gray'. Most little kids in Chinese cities wear glasses because their vision is impaired. Money is not what's most important for a decent life. Most people don't figure that out their entire lives. If you look at statistics of suicide, you'll find that a greater proportion are those who have money.

China "started" after Mao's demise and Deng Xiaoping taking over. look at Europe and compare its "start" into the industrialised era more than a century ago (and how the masses did) with China today and then report back.

"most little kids wear glasses..." = gimme a break!

[Naam]

Cut is from what to what and by how much?

"The People’s Bank of China (PBOC) said it was in line with the economic situation and would help support the real economy.".......as opposed to the fake economy?

if you, as i did, visited China in 1981, 1989 and 2010 and compare its economy with the economies of your or my country (same period) you'd consider your question not only irrelevant but its insinuation ridiculous. i'd say "the boyz and girlz in China have done extremely well!" with the help of the policies introduced by ol' Deng Xiaoping.

I actually lived and worked all over China for a long time and know it very well, but as a visitor you might not have noticed all the smoke and mirrors.

having met you personally i can judge your age and therefore claim that you have no idea of the China i saw because you were still playing in the sandbox or perhaps wearing pampers in 1981.

[Srikcir]

This rate cut was predictable as will Bank of Thailand's next cut before 2016.

Both will find that rate cuts alone will not generate enough domestic capital for growth over the short term due to lower consumer purchasing power.

[Lampang2]

Globaly it's a race towards the bottom.

Everyone wants to have competitive pricing on export products.

Thus lowering the value of their currency by low interest rate.