Via Dow Jones:

  • China’s central bank cut short-term borrowing costs for banks for the second time in less than a month
  • A sign that Beijing is under increased pressure to ease monetary conditions to combat a slowing economy
  • On the cuts, … “It shows that the central bank is under rather strong pressure to ease monetary policy as it seems like the government still considers financing costs in the economy too high,” said Gu Ying, interest-rate strategist at J.P. Morgan Chase & Co.

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Added – on the net now, here

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Any talk of stimulus in China is going to be a positive input for the AUD. Poor thing needs all the help it can get.