China's Central Bank Announces Interest Rate Cut

Nov 21, 2014 19:24

Source:SMM

The People’s Bank of China announced to cut interest rates on its Sina’s microblog Friday.

SHANGHAI, Nov. 21 (SMM) – The People’s Bank of China announced to cut benchmark interest rates since November 22 on its Sina’s microblog today.

The central bank decided to lower one-year RMB benchmark deposit rate by 0.25 percentage point to 2.75%, and one-year lending rate by 0.4 percentage point to 5.6%.

It also widened limit of the floating range for deposit interest rates to 1.2 times of the benchmark rate.

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China monetary policy

China interest rate

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China's Central Bank Announces Interest Rate Cut

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