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China's central bank is set to implement its largest interest-rate cuts in a decade, with Wall Street banks like Goldman Sachs and Morgan Stanley predicting reductions of up to 40 basis points in 2025. This move aims to bolster growth and combat deflation amid ongoing economic challenges, including a prolonged property slump and subdued credit demand. Central bank chief Pan Gongsheng is prepared to support these efforts, although analysts caution that monetary policy alone may not suffice to stimulate the economy.
China has reduced or eliminated export tax rebates on select aluminium and copper products, as well as refined oil and batteries, leading to a surge in aluminium futures prices in London. This move, which affects rebates on various aluminium products and other commodities, is seen as a strategic response to ongoing trade tensions, particularly following the recent US presidential elections. Shares of major metal producers in India are closely monitoring the situation as international soyoil prices also rise.
Qilai Shen
People
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China's Central Bank Plans Major Interest Rate Cuts to Boost Economy
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China reduces export tax rebates on metals and energy products
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