China eases monetary policy, slashes key rates as Donald Trump’s tariffs hit growth
[ad_1] A man with an umbrella passes by China's central bank also known as People's Bank of China, in Beijing. (Picture credit: AP) China’s central bank rolled out major monetary easing measures on Wednesday, slashing a key interest rate and lowering the reserve requirement for banks as the economy reels under the pressure of renewed US tariffs and domestic weakness.The People’s Bank of China (PBOC) announced a 0.25 percentage point cut to its lending rate for commercial banks, bringing it down to 1.5%, according to news agency AP. The central bank also reduced the reserve requirement ratio (RRR), the amount of money banks must hold in reserve, by 0.5 percentage points in a bid to spur more lending.The move marks one of the most significant policy interventions by Beijing since September 2024, and comes as US President Donald Trump’s sweeping […]