China’s recent decision to cut short and long-term rates by 10 basis points has sent shockwaves through the global financial markets. The People’s Bank of China announced this move with the intention of supporting economic growth in the country. This decision came shortly after the release of a policy document outlining China’s economic ambitions for
Economy
Britain’s new finance minister, Rachel Reeves, is currently considering giving inflation-busting pay increases to almost 2 million government employees. This move comes as an attempt to avoid potential public sector strikes that could cripple essential services. The pay review bodies advising the government have recommended a substantial 5.5% wage rise for 460,000 teachers and 1.4