China’s central bank cut interest rates by more than a full percentage point.
The key lending rate was dropped by 1.08% to 5.58%. This is the fourth time China has dropped interest rates since September 16, but this 1.08% cut is roughly four times the 0.27% previous rate cuts
The reserve requirements at Chinese banks were also reduced to increase business borrowing.
Related Posts
- China cuts interest rates (09/16/08)
- China cuts interest rates (10/08/08)
- China cuts interest rates….again. (10/29/08)
- New Zealand cuts rates by 1% (10/24/08)
- South Korea cuts rates too (11/09/08)
