The reserve requirement ratio for banks was also cut by half a percentage point – effectively freeing up a cool 1 trillion Chinese yuan (US$138 billion).

They also injected 1.1 trillion yuan (US$152 billion) through relending programs, supporting everything from tech startups to elder care facilities.

With no guarantee of a lasting solution for tariffs past the 90-day truce, Beijing will likely keep their other economic tools at the ready.

This could mean further rate cuts or – perhaps more substantially – direct government spending.