Chinese bank to cut interest rates again

[roland.shwarx22]

China's central bank said on 26 October , The liberalization of interest rates in China is a key element in financial reform and added that the lower borrowing costs and reduce the money that the bank must keep in reserve size is not quantitative easing. The statements come after China's central bank cut interest rates last Friday, the sixth time in less than a year, in an attempt to stimulate growth in the Chinese economy faltering. The People's Bank of China cut its benchmark interest rate on bank lending for the year by 25 basis points to 4.35%, while the reduction of the basic interest rate on deposits for the year 25 basis points to 1.50%.