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China cuts interest rates after days of market turbulence

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China cuts interest rates after days of market turbulence

Post by Admin on Tue Aug 25, 2015 1:42 pm

Markets across Asia experienced further turbulence on Tuesday, with Chinese shares suffering another fall of more than 6% a day after hundreds of billions of dollars were wiped off global stocks.

China cut its main interest rate to boost growth in its economy. The move boosted European markets after yesterday's dramatic losses.

Oil prices recovered slightly after falling 6% on Monday, with US crude up 49 cents at USD 38.73 a barrel, while Brent was up 38 cents at USD 43.07.

uatoday.tv


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