China lowers interest rates to fresh record low
The recent rate cut is the latest attempt by the government to overcome a slowing economy and meet its 2015 growth target of 7%. Some policy makers think that there is still room for further easing due to weak inflation and a slump in producer prices.
In the third quarter, growth in China’s gross domestic product (GDP) fell below 7% for the first time since the first quarter of 2009 to rise by 6.9% in the July-September period.
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