News Snapshot:
(Bloomberg) — China has promised once again to step up monetary support, raising expectations that an interest rate cut or other easing measures could happen as early as next week. Most Read from Bloomberg The State Council, China’s Cabinet, on Wednesday pledged to use monetary policy tools at an “appropriate time” to boost the economy, citing worsening risks that have “intensified” and in some cases “exceeded expectations.” The world’s second-largest economy is battling its worst Covid outbreak ever, with ballooning infections in Shanghai forcing the financial and trade hub into an extended lockdown. The war in Ukraine has clouded the...
