After months of wide-scale economic deterioration in China, the People's Bank of China and the central government are finally taking action with three waves of stimulus measures today. The PBOC first makes a surprise cut to the 7-day reverse repo rate before market open on Tuesday, followed by a Bloomberg report of a broad based stimulus package at the end of the trading day, and finally a late-evening announcement of cuts to three standing lending facility rates.
Yet, the overall market response was that of deafening silence. Weston Nakamura walks through each of the stimulus measures, as well as what the anemic market response means, and what to look for next.
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Disclaimer: Nothing discussed on Market Depth should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
