Charting the global economy: China cuts rates; mild US inflation

Quick Summary:

China’s central bank decreased the rate of the medium-term lending facility by 20 basis points to 2.3%, the first reduction in almost a year.

The cut followed the PBOC’s trim of the seven-day reverse repo by 10 basis points on Monday.

Prime Minister Narendra Modi’s new government outlined vast spending on unemployment and projects favored by key political allies, in the most high-profile acknowledgment to date by the ruling party of India’s changed political landscape following a punishing election setback last month.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: IndiaBrazilCanadaChinaGermanyGhanaHungaryJapanMexicoNigerNigeriaParaguayTurkeyVietnam

Topics: Global economy Policy loans Us Emerging markets Asia Consumer spending Federal Reserve

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-28 @ 11:01:52 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 1672 words

Reading Time: 10 minutes read

Sentences: 48 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 21802229

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About Economic Times

Main Topics: Business

Official Website: economictimes.indiatimes.com

Update Frequency: 2 posts per day

Year Established: 1961

Headquarters: India

News Last Updated: 1 days ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #84

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