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Copper Soars On Huge Chinese Stimulus Announcement
Copper prices are surging higher today on the back of a fresh round of fiscal stimulus announced by Chinese authorities overnight. The PBoC announced a reduction in its short-term interest rate and noted that it would slash the reserve ratio for regional banks to its lowest level since 2018. Alongside these measures, the first time that both have been announced in tandem since 2015, the bank detailed additional fiscal measures. The PBoC has launched a new stimulus package aimed at buffering the troubled property sector, reducing costs on over $5.3 trillion in mortgages and relaxing the rules around second home ... (full story)
