China cuts rates; Bernanke silent on QE3

PUBLISHED ON: June 7, 2012 | Duration: 10 min, 34 sec

   
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The People’s Bank of China unexpectedly cut its interest rates by 25 basis points, for the first time since 2008, to 6.31 per cent. Meanwhile, Federal Reserve chairman Ben Bernanke said that the US central bank was ready to shield the economy if financial troubles mount, but offered few hints that further monetary stimulus was imminent.
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