China cuts interest rates by 25 basis points from 8 June
07 June 2012 13:39 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>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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