China to cut reserve requirement ratio, key interest rate: central bank governor

China's central bank will cut the reserve requirement ratio (RRR) and lower key interest rates to stabilize the market and expectations, said Pan Gongsheng, governor of the People's Bank of China (PBOC), on Wednesday.

Speaking at a press conference, Pan revealed a slew of measures the central bank will take to support China's economic growth.

"The People's Bank of China will strengthen macro regulation and roll out a package of monetary policy measures. It will lower the reserve requirement ratio by 0.5 percentage points, providing about one trillion yuan (about 138.9 billion U.S. dollars) in long-term liquidity," said Pan.

The central bank will also improve the reserve requirement system and temporarily reduce the reserve requirement ratio for auto finance companies and financial leasing companies from the current five percent to zero, said Pan.

"We will also lower the policy interest rate by 0.1 percent. It means that the interest rate of seven-day reverse repos will be lowered to 1.4 percent from the current 1.5 percent. It is expected to bring down the loan prime rate (LPR) by about 0.1 percentage points," said Pan.

Pan also said that the central bank will continue a moderately loose monetary policy, adjust its policies based on economic conditions, and enhance coordination with fiscal policy to support high-quality growth.

China to cut reserve requirement ratio, key interest rate: central bank governor

Iran is not only ready for talks with the U.S. on the basis of mutual respect, but also fully prepared for war, said Iranian Foreign Minister Seyed Abbas Araghchi on Monday.

Araghchi accused the U.S. and Israel of playing a direct role in recent unrest across Iran. He said the Iranian government has obtained evidence showing that the recent disturbances, including attacking police stations and burning public facilities, were carried out by "terrorists" backed by the U.S. and Israel.

The Iranian government announced a three-day nationwide mourning period from Monday to honor police officers, security personnel, and civilians killed during the disturbances.

According to Iran's semi-official Tasnim news agency, at least 111 members of Iran's security forces have been killed in the unrest over the past two weeks. Iranian authorities have not released official casualty figures for protesters.

At midday on Monday, Iranians remained largely without internet access, according to on-the-ground reporting by a China Media Group (CM) journalist, who also said domestic phone services have not been disrupted in Iran over the past 24 hours.

Security has been reinforced across Tehran, with police increasing patrols in key locations and blocks.

Despite heightened security measures, traffic conditions in Tehran were reported to be normal.

Iran ready for talks with US based on mutual respect: FM