China cuts interest rates by 0.25% points
China's central bank
Beijing - Arab Today
China's central bank on Tuesday cut its benchmark interest rates and the amount of cash banks must keep on hand, the latest stimulus aimed at boosting the world's second-largest economy as it battles a collapse in share prices.
The People's Bank of China announced on its website that it was reducing lending and deposit interest rates by 0.25 percentage points each and its reserve requirement ratio by 0.50 percentage points. The moves take effect Wednesday, it said.
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