China cuts interest rates by 25 basis points from 8 June

07 June 2012 13:39  [Source: ICIS news]

SINGAPORE (ICIS)--China will cut interest rates by 25 basis points from 8 June, the central bank announced on Thursday.

After the cut, the benchmark one-year lending rate will be 6.31%, according to a statement from the People’s Bank of China (PBoC).

This is the country’s first interest rate reduction since December 2008. China last adjusted rates by a 25 basis points hike in July 2011.

 


By: Fanny Zhang
+65 6780 4359



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