InfoAnda - China cuts interest rates in new growth effort

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China cuts interest rates in new growth effort AP - 45 minutes ago BEIJING - China cut a key interest rate Monday just four weeks after its biggest rate cut in 11 years in a new effort to revive deterioriating economic growth amid tensions over rising job losses. The benchmark one-year lending rate will fall by 0.27 percentage point to 2.25 percent, effective Tuesday, the central bank said. It was the fifth cut in four months and came after the key lending rate was slashed by 1.08 percentage points on Nov. 26. It left the benchmark rate at its lowest level since February 2004. Beijing has cut interest rates and is pressing banks to lend in hopes of encouraging wary Chinese consumers and businesses to borrow and spend in an effort to support a massive government stimulus package launched in November. There have been protests by laid off workers, and Chinese leaders have warned that more job losses could fuel instability. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Georgia FDI Jan-Sept down 15.8 pct yy to $1.1 blnReuters - 37 minutes ago TOPWRAP 4-Japan recession deepens, China cuts ratesReuters - 1 hour 8 minutes ago China's central bank cuts interest ratesAP - 1 hour 34 minutes ago Hong Kong stock index falls 3.3 percentAP - 1 hour 40 minutes ago Related Articles: Business London's FTSE 100 index down at 4,290.30AP - 15 minutes ago Aeroflot Greek flight turns back after bomb warningReuters - 30 minutes ago Emerging Markets-Stocks down, rouble, hryvnia fallReuters - 33 minutes ago Tata Motors keeps spending on Jaguar Land RoverAP - 33 minutes ago Georgia FDI Jan-Sept down 15.8 pct yy to $1.1 blnReuters - 37 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Toyota forecast deepens gloom over global economy Let poor eat caviar: Milan authorities New Year's hangover? Take two eels and call me in the morning Actress Jennifer Aniston appears naked in GQ magazine Quake zone hero pig named China's animal of the year View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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