China Cuts Interest Rates to Support Economy

Name: China Cuts Interest Rates to Support Economy
Uploaded: 2015-06-27T15:40:05+03:00
Duration: 49 s
Description: China's central bank cut its benchmark lending rates to 4.85 percent on Saturday. It's the fourth reduction since November, as the country gears up to lower borrowing costs and support a slowing economy. The People's Bank of China said in a statement

1 926 27.06.2015

China's central bank cut its benchmark lending rates to 4.85 percent on Saturday. It's the fourth reduction since November, as the country gears up to lower borrowing costs and support a slowing economy. The People's Bank of China said in a statement it also reduced one-year benchmark deposit rates to 2 percent, adding that the reductions would take effect on Sunday. Weighed down by a property downturn, factory overcapacity and local debt, growth in China's economy is expected to slow to a quarter-century low of around 7 percent this year.  

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