Scoreboard: Chinese surprise

The local market is tipped to start the week stronger following the PBoC’s decision to cut interest rates.

Strong gains are tipped at the start of trade following the surprise decision by the People's Bank of China (central bank) to cut the 12-month lending rate by 40 basis points to 5.60 per cent and the 12-month deposit rate by 25bps to 2.75 per cent. The futures market is tipping a 52 point gain at the open of trade or 1 per cent.

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