MONEY MASTER

China has ramped up stimulus efforts to prevent its economy from slipping into a deflationary spiral , with measures including interest rate cuts, eased home-buying rules, and cash handouts. The People’s Bank of China slashed rates on one-year loans and the government rolled out subsidies to support jobless graduates. These moves are aimed at reviving growth in the world's second-largest economy, but analysts warn this might only be a temporary fix. Globally, here's a roundup of key economic trends and developments: Asia China : Despite the stimulus, China is expected to miss its 2024 growth target as the property slump continues to weigh heavily on economic momentum. The People's Bank of China cut its medium-term lending rate to 2% , marking the largest reduction on record. India : Gold imports surged ahead of the festive season, boosted by tax cuts, signaling strong demand in the world’s second-largest gold consumer. US US Core Inflation : The Federal Reserve's ...

China increased support for its economy with surprise interest-rate cuts, seeking to prop up growth after a lack of short-term stimulus from a major Communist Party meeting disappointed investor. Key Takeaways: PBOC Rate Cut : The People's Bank of China (PBOC) cut the seven-day reverse repo rate, a key short-term policy rate, in the first reduction in almost a year. Chinese banks followed by lowering their main benchmark lending rates, making it less costly to borrow for mortgages and other loans. Economic Growth : The moves underline the authorities’ urgency to bolster an economy growing at its slowest pace in more than a year. This comes just a day after the party published a sweeping document upholding President Xi Jinping’s plan to focus on technology while tolerating slower growth in the near term. Market Reaction : China’s CSI 300 Index dropped as much as 1.1%. The yuan weakened 0.1% against the dollar in offshore trading, while the Hang Seng China Enterprises Index rose 0.8%...