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Thread: China cuts the interest rates again!
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[quote=DREAMLIFE,349207]The People's Bank of China announced to cut the interest rates again yesterday. The one-year lending rate would be cut by 27 basis points to 5.31 percent and the one-year deposit rate would also be lowered by 27 basis points to 2.25 percent. At the same time, the reserve ratio would be cut by 50 points too. This move suggests that China is making efforts to stop the economic downturn. As for the next year's economic growth, China says it will do all necessary things to ensure 8% eonomic growth. However, the foreign financial institutions seem not to be optimistic. The Royal Bank of Scotland predicts that the growth for next whole year will be 5 percent.[/quote]
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