The People’s Bank of China cut a short-term policy rate, and Chinese banks followed by cutting their benchmark lending rate for mortgages, the five-year loan prime rate, by 10 basis points, as well the rate for most other loans the one-year loan prime rate by the same amount. China cut its benchmark lending rate Monday, in a move aimed at boosting an economy that continues to suffer a sharp slowdown from a prolonged real estate slump, tepid consumer spending, and trade tensions. What is your take on China’s the surprise move ?
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