“China’s central bank on Thursday lowered interest rates for the second time in less than a month, a surprising move that signals alarm by authorities in Beijing at the state of the world’s second-largest economy.
The People’s Bank of China said in a statement it will cut the one-year yuan lending rate by 0.31 percentage point and the one-year deposit rate by 0.25 percentage point.
In addition, lending rates will be allowed to fall to 70% of the benchmark rate, down from 80% currently.”
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