News Snapshot:
Tokyo | China’s central bank has announced a second key interest rate cut in a matter of days as weaker-than-expected industrial production and retail sales in May ramps up pressure on policymakers to stimulate the faltering economy. The People’s Bank of China (PBoC) announced the 10 basis points cut on 237 billion yuan ($49 billion) of one-year medium-term lending facility (MLF) loans on Thursday, just two days after the surprise reduction in a short-term lending rate. Recruiter and job-seeker at a jobs fair in Beijing at the weekend. Youth unemployment hit a new high of 20.8 per cent. Getty The...
