4

AI created summarization:

  • China's central bank cut the key one-year lending rate by 0.1 percentage points to 2.65% on Thursday.
  • This is the second rate cut this week, following a surprise cut on Tuesday to the seven-day reverse repo rate.
  • The moves are aimed at boosting liquidity in the banking system and making short-term loans cheaper, as officials continue to try to shore up a sputtering economy.
  • New government data on Thursday showed that retail sales rose 12.7% in May compared with a year ago, but that was down from 18.4% growth the previous month and less than economists were expecting.
  • Industrial production grew 3.5%, in line with consensus estimates, but growth was weaker than in April.
  • Urban youth unemployment hit another new high in May, reaching 20.8%.
  • The majority of latest economic data are below the already-low consensus, and the latest rate cuts suggest that policymakers clearly feel the urgency to step up policy support.
no comments (yet)
sorted by: hot top controversial new old
there doesn't seem to be anything here
this post was submitted on 16 Jun 2023
4 points (100.0% liked)

World News

39041 readers
2627 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS