China’s central bank cuts interest rates by 0.25%
The PBOC announced that it would cut the benchmark lending rate to 5.35% and the benchmark savings rate to 2.50% from 2.75%.
“The interest cut is aimed at to keep real interest rate levels suitable for fundamental trends in economic growth, prices and employment “the PBOC said in a statement. It was the second time the PBOC had cut its benchmark interest rate over the last three months.
China’s annual consumer inflation posted the lowest level in five years in January while the country’s export and import growth were also slower than expected.
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