- Asian stock markets trade mixed following the People’s Bank of China (PBoC) interest rate decision.
- Chinese central bank cut the one-year Loan Prime Rate (LPR) by 10 basis points (bps) to 3.45% from 3.55%.
- Investors will focus on the Federal Reserve (Fed) Chairman Jerome Powell Speaks at the Jackson Hole Symposium.
The week began on a tepid note for Asian stock markets as China slashed its Loan Prime Rate (LPR) for one year by a smaller margin than anticipated while keeping its LPR for five years unchanged.
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