🇨🇳 China Cuts Interest Rates to Historic Lows

The People's Bank of China announced this week a new cut in two key interest rates, aiming to stimulate economic activity in the country.

The one-year prime lending rate, used as a benchmark for loans to businesses and households, fell from 3.1% to 3%. Meanwhile, the five-year rate, which serves as a benchmark for mortgages, fell from 3.6% to 3.5%. Both are now at their lowest levels on record.

These measures are part of a broader strategy to address several challenges such as subdued consumption, high youth unemployment, and trade tensions with the United States.

https://video.nostr.build/dfd6eddc548e83144f441c83c9af452a3756d0b38bf8f9595d108f9ad38f6ba1.mp4