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China cuts interest rates as economy sputters

mei 10, 2015by 0

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Related articles Muted inflation in April fuels calls for more easing in China China resorts to market for antidote to debt pains BEIJING — China cut interest rates for the third time in six months on Sunday in a bid to lower companies’ borrowing costs and stoke a sputtering economy that is headed for its worst year in a quarter of a century. The People’s Bank of China (PBOC) said on its website it was lowering its benchmark, one-year lending rate by 25 basis points to 5.1% from May 11. It cut the benchmark deposit rate by the same amount to 2.25%. “China’s economy is still facing relatively big…

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