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July 22, 2024

China surprises markets with unexpected interest rate cuts

ISTANBUL: China’s central bank, the People’s Bank of China (PBC), unexpectedly decided to lower its interest rates by 10 basis points on Monday.

The one-year loan prime rate (LPR) dropped to 3.35%, and the over-five-year LPR decreased to 3.85%.

The …

‘No comment,’ says China on Biden’s exit from US elections

ISTANBUL: China on Monday refrained from commenting on US President Joe Biden’s decision to exit the presidential race, state media reported.

‘The US election is an internal matter” of America, said Foreign Ministry spokeswoman Mao Ning.

‘No comment…