China unexpectedly decided to cut interest rates for the first time since 2008: the People's Bank of China, the country's monetary authority, has in fact announced that it has reduced the reference rate corridor, lowering the one-year deposit rate and the one-year loan rate by a quarter of a point.
The decision is effective starting tomorrow. The most updated economic indicators (May) on the situation of the second world economy will be released on Saturday after a sharper than expected slowdown in April.
