The People’s Bank of China has lowered its interest rate for the fifth time since November boosting European stocks higher in afternoon trading. The one-year lending rate has been reduced by 25 basis points to 4.6%, which is record low for China, according to Bloomberg. Lu Ting, chief economist at Huatai Securities Co. said the … Continue reading
Japan’s Nikkei stock market hit a 7 year high today as the index gained over 5%. On the other hand, the yen headed south to its lowest since early 2008 against the dollar, and lost more than 1% during one day. The sharp market and currency movements are the result of the today’s Bank of Japan surprise monetary easing decision. The BOJ unexpectedly surprised … Continue reading