Tuesday August 25, 2015

// August 25th, 2015 // Daily News

China has cut interest rates for fifth time in nine months

CNBC.com
China cut interest rates for the fifth time in nine months on Tuesday, in a new effort to shore up slowing economic growth.
The central bank said the benchmark rate for a one-year loan would be cut by 0.25 percentage point to 4.6 per cent and the one-year rate for deposits would fall by a similar margin to 1.75 percent.
The bank also increased the amount of money available for lending by reducing the minimum reserves banks are required to hold by 0.5 percentage point.
The moves had been anticipated by financial analysts after exports, manufacturing and other economic indicators weakened by larger margins than expected.
It comes at a time of extreme volatility for Chinese stocks, with the benchmark Shanghai Composite index closing down by 7.6 percent on Tuesday—at its lowest since December 2014.
“One of the few things we know about Chinese policy making is that they are not subservient to markets wishes, especially in terms of timing,” said BBH analysts led by Marc Chandler, in a note on Tuesday.
The central bank also shocked markets earlier this month by devaluing the Chinese yuan by nearly 2 percent against the U.S. dollar. The bank described this as a free market reform, but some analysts saw the agenda as currency depreciation with the intent of making exports more competitive.

Today’s Inspiration

You Are Secure

by Joyce Meyer – posted August 25, 2015

Lean on, trust in, and be confident in the Lord with all your heart and mind and do not rely on your own insight or understanding. In all your ways know, recognize, and acknowledge Him, and He will direct and make straight and plain your paths.
– Proverbs 3:5–6

Following God is not a part-time lifestyle. The Bible clearly teaches that we are to be cautious at all times because the devil looks for opportunities to devour us (see 1 Peter 5:8).

But God gives us grace to withstand the devil and to be firm in faith against his onset. You can be rooted, established strong, immovable, and deter¬mined, knowing that whatever you face today is identical to what Christians throughout the world are facing. And God Himself will complete you and make you what you ought to be. He will establish you and ground you securely, strengthen and settle you today (see vv. 9–10).

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