Peoples Bank of China cut their lending
rate 31 points overnight. This is the
2nd rate cut in a month. Has the Chinese
economic miracle popped?
For China to cut rates this aggressively
is not good news. Ironically, the market
may try to play the rate cut as good
news which may last about 24 hours.
China appears desperately trying to
maintain growth at 7.5% A drop to 6%
growth spells a serious recession for
them.
rate 31 points overnight. This is the
2nd rate cut in a month. Has the Chinese
economic miracle popped?
For China to cut rates this aggressively
is not good news. Ironically, the market
may try to play the rate cut as good
news which may last about 24 hours.
China appears desperately trying to
maintain growth at 7.5% A drop to 6%
growth spells a serious recession for
them.
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