Five Key Takeaways as China Unveils Stimulus to Boost Economy

China unveiled more measures to boost its stuttering economy in a rare briefing by the head of the central bank, along with the securities and financial regulators. Here are the key takeaways from the roughly 90-minute-long event:

• People’s Bank of China Governor Pan Gongsheng announced a cut in the reserve requirement ratio, seven-day policy rate and existing mortgage rates, in a bid to both boost lending and reduce the existing loan burdens. He said further RRR cuts are possible
• Pan also announced at least 500 billion yuan ($71 billion) of liquidity support for stocks. There will be a swap facility ...