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Thread: China cuts the interest rates by 108 basis points!
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[quote=KEVIN0518,340708]To prevent economic slump and possible deflation, China declared to cut the interest rates by 108 basis point yesterday. The decrease is the sharpest in recent 10 years. The government also the reserve ratio greatly to support the “massive” fiscal spending programme that officials are trying to put in place. Cutting the interest rates by 108 basis points is regarded as the most aggressive policy in a decade. It indicates that Chinese economy is cooling down more quickly than had been expected previously. The World Bank had reduced their forecast for the growth of Chinese economy to 7.5 percent, the lowest level since 1990. It is expected that China will lower the interest rates by 200 or 250 basis points in next 6 months.[/quote]
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