China announces new stimulus measures to counter weak PMIs
Norbolsa | New stimulus measures to counteract the weakness of the PMIs. The central bank set the date of early October to cut rates on existing mortgage loans by an average of 50 bps. The market reacted with strong rallies to the news, and buying piled up ahead of the ‘Golden Week’ holiday period that China is celebrating this week. The disappointing PMI data for September, which did not reflect…
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