China decided to keep its key lending rates unchanged, with the 1-year loan prime rate at 3.1% and the 5-year LPR at 3.6%, following the U.S. Federal Reserve’s decision to hold interest rates. The People’s Bank of China aims to stabilize the currency amidst trade tensions, with the yuan facing pressure and officials preparing for monetary easing measures to support growth and maintain stability. The yuan remained stable against the dollar post-announcement, while the 10-year government bond yield fell, as China plans for interest rate cuts to achieve an ambitious growth target of “around 5%”.
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Irish Senator Reports Kidnapping Amid Gaza Flotilla Attack
Israeli naval forces seized a humanitarian aid flotilla en route to the Gaza Strip, detaining 317 activists, including Irish Senator Chris Andrews, who described the mission as non-violent. The Israeli Foreign Ministry confirmed the operation, stating the detained individuals are being sent to Ashdod for deportation, amidst ongoing tensions related to the Gaza blockade. Want More Context? 🔎
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