China cut interest rates for the fifth time in three months yesterday as the government tried to pump money into the economy to restore the high growth rates it considers crucial for social stability.
The benchmark one-year lending rate was cut by 27 basis points to 5.31 per cent, while the one-year deposit rate was lowered by the same amount to 2.25 per cent.
The People’s Bank of China, the central bank, also reduced the amount of money banks must hold in reserve by cutting the required reserve ratio by 50 basis points, a move that analysts say will release Rmb300bn ($43.8bn) for the banks to lend.
您已閱讀37%（604字），剩余63%（1010字）包含更多重要信息，訂閱以繼續(xù)探索完整內(nèi)容，并享受更多專屬服務(wù)。