China and australia ease monetary policy
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As bond yields of large economies like the U.S. and Japan creep higher, making borrowing more expensive, there were other moves on Tuesday that may improve global liquidity, when the central
banks of China and Australia eased monetary policy. The People's Bank of China lowered its one-year loan prime rate from 3.1% to 3%. The five-year rate, which is used as a benchmark
for long-term loans including mortgages, was cut from 3.6% to 3.5%. The PBOC's rate reductions comes as Beijing is trying to support businesses and households as the country faces the
fallout from raised tariffs on exports to the U.S.