China just slashed short-term interest rates in its economy to 1.9%.
Meanwhile, the government is mulling a big stimulus package to prop up key sectors.
Short-term interest rates in China were cut to 1.9% from 2% on Tuesday, according to an announcement from the People's Bank of China, marking the first rate cut from China's central bank since August of last year.
China's government, meanwhile, is mulling a hefty economic stimulus package, Bloomberg reported, citing people familiar with the matter.
That makes the narrative that China will undergo a huge economic rebound is merely a "charade," according to Rockefeller International chair Ruchir Sharma.
Persons:
—, Yi Gang, Ruchir Sharma, Desmond Lachman
Organizations:
Service, People's Bank of, Bloomberg, uts, Rockefeller International, International Monetary Fund
Locations:
China, People's Bank of China