China to cut interest rates in response to trade war with US
Half-point cut to be made to banks’ reserve requirement ratio and 1tn yuan released into banking system
China will cut interest rates and inject some much-needed liquidity into the domestic economy, as the country steels itself for a bruising trade war with the US.
The People’s Bank of China said on Wednesday it would make a half-point cut to the banks’ reserve requirement ratio, its benchmark interest rate, and release 1tn yuan (£103.6bn) into the banking system.
Government defends NI exemption in UK-India trade deal
Opposition parties claim the new trade agreement means Indian workers will be cheaper for employers to hire.