Rate Cut Good For Australia / Emerging Markets
A rate cut in China should assist the commodity-rich Australian economy. It should also give a tailwind to emerging market stocks, including India. From the Wall Street Journal:
China’s central bank moved aggressively to support growth Thursday…The People’s Bank of China said in a statement on its website it will lower benchmark one-year lending and deposit rates by 0.25 percentage point…Dariusz Kowalczyk, an economist with Credit Agricole, said the move signals that “policy makers bringing out the big guns to support growth.”

