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  1. China’s central bank cuts rates for 6th time since November

China’s central bank cuts rates for 6th time since November

China's central bank cut interest rates for the sixth time since November on Friday in another attempt to jumpstart a slowing economy.

By: | Beijing | Updated: October 23, 2015 5:23 PM
china central bank

China has pursued its most aggressive policy easing cycle this year since the 2008/09 global financial crisis, as policymakers seek to invigorate an economy beset by weak demand and excessive industrial capacity. (Reuters)

China’s central bank cut interest rates for the sixth time since November on Friday in another attempt to jumpstart a slowing economy.

The People’s Bank of China (PBOC) said on its website that it was lowering the one-year benchmark bank lending rate by 25 basis points to 4.35 percent, effective from Oct. 24.

The one-year benchmark deposit rate was also lowered by 25 basis points to 1.50 percent.

China has pursued its most aggressive policy easing cycle this year since the 2008/09 global financial crisis, as policymakers seek to invigorate an economy beset by weak demand and excessive industrial capacity.

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Tags: China

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