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Podcast: Market Depth
Episode: How Are Markets Responding To China's Sudden Rate Cuts?
Description: After months of wide-scale economic deterioration in China, the People's Bank of China and the central government are finally taking action with three waves of stimulus measures today. The PBOC first makes a surprise cut to the 7-day reverse repo rate before market open on Tuesday, followed by a Bloomberg report of a broad based stimulus package at the end of the trading day, and finally a late-evening announcement of cuts to three standing lending facility rates.Yet, the overall market response was that of deafening silence. Weston Nakamura walks through each of the stimulus measures, as...