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Article: ANALYSIS: CHINA RATE CUTS TO ENHANCE CONFIDENCE IN ECONOMIC GROWTH.
- Article from:
- AsiaPulse News
- Article date:
- October 10, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, Oct 10 Asia Pulse - People's Bank of China, China's central bank, announced Wednesday evening to cut deposit and lending rates and the reserve requirement ratio (RRR).
The cuts, the second such move in less than a month, highlighted the government's increasing efforts to maintain economic growth and boost market confidence, analysts say.
-- Internal pressure of Chinese economy mounts on international financial turbulence According to the central bank announcement, the deposit and lending rates will be lowered by 0.27 percentage point from Thursday and the RRR will be cut by 0.5 percentage point effective from Oct. 15.
The cuts are in ...