PBOC Comes to the Party: The People’s Bank of China has finally made their move. After the Shanghai Composite turned negative for the year, the country’s central bank responded by once again cutting interest rates. While seen as stimulatory on the surface, it is another public admission from the secretive, planned economy that Beijing is still worried about the sharp decline in economic growth coming out of the country. “CHINA CUTS RRR RATIO BY 50 BPS TO 18%, CUTS INTEREST RATES.” “CHINA CUTS
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