China's Central Bank Cuts Interest Rates for the 3rd Time in 6 Months

Name: China's Central Bank Cuts Interest Rates for the 3rd Time in 6 Months
Uploaded: 2015-05-10T16:50:02+03:00
Duration: 41 s
Description: China's central bank is cutting interest rates for the third time in six months to boost the country's sluggish economy. The People's Bank of China said Sunday that it would cut the rate on a one-year loan by commercial banks by 0.25 percentage point

245 10.05.2015

China's central bank is cutting interest rates for the third time in six months to boost the country's sluggish economy. The People's Bank of China said Sunday that it would cut the rate on a one-year loan by commercial banks by 0.25 percentage point to 5.10 percent. The cuts follow a string of tax reductions and other measures aimed at propping up growth. The latest cuts are expected to reduce financial costs for state companies and are a signal to state-owned banks to boost lending.  

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