Most Asian markets built on a global rally Wednesday as China announced another interest rate cut the day after unveiling a series of measures to boost the country's ailing economy.

Most Asian markets built on a global rally Wednesday as China announced another interest rate cut the day after unveiling a series of measures to boost the country's ailing economy.

More fiscal support is needed, analysts said, after the PBOC surprised markets by announcing plans to cut a number of rates.

China's central bank on Wednesday said it would slash another key interest rate, a day after it unveiled a raft of new measures aimed at boosting its ailing economy. "China's slew of monetary easing measures have done little to stimulate the economy in recent years," China Beige Book's Shehzad Qazi, told AFP. "Rate cuts are no longer enough to boost growth in China," he said.

China's central bank on Wednesday said it would slash another key interest rate, a day after it unveiled a raft of new measures aimed at boosting its ailing economy. "China's slew of monetary easing measures have done little to stimulate the economy in recent years," China Beige Book's Shehzad Qazi, told AFP. "Rate cuts are no longer enough to boost growth in China," he said.