date:Aug 27, 2015
finally prodded the Chinese central bank in to action.
Chinese interest rates were shaved by 0.25%, and perhaps more significantly, capital reserve requirements for banks were cut by 0.5%.
The Chinese government will be hoping this new found liquidity will boost markets, and western stock markets seemed to agree, as the FTSE 100 and the FTSE Eurofirst rose 3.1% and 4.2% respectively, while the Dow Jones in New York followed the upward trend on opening.
Turnaround Tuesday
In many ways the pict