China Cuts: Welcome back to Monday Asia in what looks an action packed week. Friday saw the People’s Bank of China cut their benchmark rate by another 0.25% to 4.35%. This is the 6th cut of official interest rates in the last 12 months! Interestingly enough, the control that the PBOC has, allows it to cut rates for ‘businesses and commercial purposes’ but not for mortgages. This is intended to guard against the formation of a housing bubble. Wouldn’t the RBA and RBNZ love that! Alongside the
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