China to cut interest rates in response to trade war with US
by Amy Hawkins and agencies from US news | The Guardian on (#6X424)
Half-point cut to be made to banks' reserve requirement ratio and 1tn yuan released into banking system
China will cut interest rates and inject some much-needed liquidity into the domestic economy, as the country steels itself for a bruising trade war with the US.
The People's Bank of China said on Wednesday it would make a half-point cut to the banks' reserve requirement ratio, its benchmark interest rate, and release 1tn yuan (103.6bn) into the banking system.
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