China calls for restraint from Cambodia, Thailand to prevent escalation of border clash

China hopes that both Cambodia and Thailand will exercise restraint to prevent any escalation of border clashes between the two neighboring countries, Foreign Ministry spokesman Guo Jiakun said on Tuesday.

Guo made the statement at a press conference in Beijing in response to renewed armed clashes that erupted between Thai and Cambodian forces along the common border between the two countries on Sunday and Monday, with both sides accusing each other of firing first.

"As a friend and close neighbor of Cambodia and Thailand, China sincerely hopes that both sides exercise restraint and work in the same direction to prevent further escalation of the situation. China will continue to play a constructive role for deescalation in its own way," Guo said.

China calls for restraint from Cambodia, Thailand to prevent escalation of border clash

The U.S. Federal Reserve on Wednesday decided to lower the target range for the federal funds interest rate by 25 basis points to 3.5 to 3.75 percent, marking its third rate cut this year.

The latest move was widely anticipated, making it the third rate cut in a row since the Federal Open Market Committee monetary policy meeting in September.

"Uncertainty about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual mandate and judges that downside risks to employment rose in recent months," the Fed said in a statement.

The statement also noted moderate economic expansion, a higher unemployment rate, elevated inflation and more recent indicators consistent with those developments.

U.S. Fed cuts interest rate by 25 basis points