China rates tweak boosts Asia stocks
Hopes that major economies will seek to prop up slowing growth with fresh stimulus have helped ease some recessionary fears that hit markets last week
19 August 2019 - 07:57
Tokyo — Asian stocks tracked the Wall Street rally on Monday and found an extra tailwind from a move by China’s central bank to change the way a key interest rate benchmark is set, seen by analysts as reducing borrowing costs for companies.
The People’s Bank of China (PBOC) unveiled key interest rate reforms on Saturday to help steer borrowing costs lower for companies and support a slowing economy caught in the grip of a bruising trade war with the US...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.