“China cuts rates again to shore up stumbling economy”

The headline to the post is a typical one I’m seeing from notes around the place. “Stumbling” is a mild word to describe the Chinese economy, its getting hit hard by the property sector imploding under debt loads, defaults, mortgage payment strikes and buyers pulling away in fear of further price falls (and holes too!). Consumer demand is drying up. Rolling COVID-related restrictions and lockdowns are not helping. Even the weather is not helping right now:

The People’s Bank of China cus its one year prime rate less than expected, and its five year more than expected:

  • China rate cuts: LPR 1 year 3.65% (from 3.7%) & 5 year 4.30% (from 4.45%)
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