Beijing Announces Surprise Interest Rate Cuts

TaiwanPlus News
TaiwanPlus News
  • 2 months ago
China's central bank announced surprise rate cuts on Monday. The rate cuts come as Beijing mulls measures to improve its economy.
Transcript
00:00China's central bank has announced surprise interest rate cuts.
00:04On Monday, Beijing reduced the key lending rates by 10 basis points.
00:09The one-year loan prime rate is now 3.35 percent, and the five-year is 3.85 percent.
00:16Economists had expected the interest rates to remain unchanged.
00:20The cuts come as the government discusses tweaks to improve the economy.

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