02.03.2015 - The decision of the People's Bank of China supported the market
The People's Bank of China said on Saturday about the cut of interest rates by 0.25%. Deposit rate was reduced to 2.5%, and credit rate to 5.35%. The reason for the easing of monetary policy was slowing Chinese growth pace. So, in the past year, China's GDP grew by 7.4%, and this year is projected to grow by about 7.0%. The main risk for the Chinese economy is a crisis in the construction sector country. Lower interest rates show the government's willingness to support economic growth in the country with the help of stimulus measures. In this regard, we expect continued growth on the stock markets of the country in the medium term.