Interest rate cut from the People's Bank of China!

The People's Bank of China unexpectedly lowered the interest rate by 10 basis points to try to stimulate demand for loans to support the economy affected by the Covid-19. He withdrew some cash from the banking system on Monday.

Economists and analysts have said they believe Chinese officials are willing to support the stagnant economy by allowing a widening policy divergence with other major economies that have raised interest rates sharply.