Quick note: Everyone knew that at 7:00 AM ET, the Bank of England was going to announce a rate decision, and probably expand its QE program.
And it did.
But everyone is now talking about the People’s Bank of China cutting the reserve requirement ratio and also cutting interest rates, which the bank announced simultaneously at 7:00 AM.
What’s really interesting though is that this is the second straight month that China upstaged the BoE like this. [h/t @mamtabadkar]
Note the time of our post on the matter last month.
Same time, same place, same upstaging.