China's Rate Cuts Fail to Revive Sluggish Economy.
TL;DR Summary
China's central bank has cut its main benchmark lending rates for the first time in 10 months in an effort to bolster growth as the world's second-largest economy falters. The rate cuts come as Wall Street banks, including Goldman Sachs, slash their forecasts for China's economy. The most concerning issue for policymakers is likely to be the persistently high unemployment rate, with the jobless rate for 16 to 24-year-olds increasing to 20.8% last month, shattering the previous record set in April.
- China cuts main interest rate as economic recovery fizzles out CNN
- China Rate Cut Misses Expectations Bloomberg Television
- China cuts two more key lending rates as economy sputters CNBC
- Opinion: Why China’s Policy Rate Cut Has Only Limited Impact on the Economy Caixin Global
- Stocks fall as modest China rate cut disappoints Reuters
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